Wipro to replace Bajaj Auto in Sensex

According to a BSE statement, the semi-annual rebalancing of BSE Sensex will come into effect from December 20 with the only given change.

According to Edelweiss Alternative Research, this rejig would mark the inflows of $154.3 million in Wipro, the third-largest IT player in terms of market capitalisation. On the other hand, Bajaj Auto could see outflows of $69.1 million.

This would be done by the passive funds tracking the index would channelise their allocation to Wipro, pulling out funds from the two-wheeler player.

Among the other rejigs, state-run lender

will replace on the BSE Bankex, the exchange said.

On the BSE 100 Index and BSE Sensex Next 50 Index, Biocon, Power Finance Corp, Torrent Pharma, and REC will be replaced by Adani Transmission, Adani Total Gas, SRF and Max Financial Services. Both Adani Group stocks have rallied between 300-400 per cent in the current year so far, whereas SRF has almost doubled investors wealth in 2021.

In the exit list, Biocon has lost one-fourth of its value in the current year so far, whereas Power Finance Corp, Torrent Pharma and REC have delivered an almost flat return, underperforming the benchmark Sensex.

Wipro will be weighted 1.5 per cent on the BSE barometer with adjustment in the weightage of other counters on the Sensex, noted Edelweiss Alternative Research.

The weightage of Infosys will be trimmed by 0.2 per cent to 10 per cent.

, HDFC Bank, ICICI Bank and HDFC will command the weightage of 12 per cent, 10.1 per cent, 7.9 per cent and 7.5 per cent, respectively, on the index with a cut of 10 basis points each.