The weightage of Reliance Industries (RIL) may increase in the benchmark index. S&P BSE Sensex According to Edelweiss Alternative Research, the weight gain was accompanied by inflows of $75 million, while outflows could be seen in IT and bank stocks such as Tata Consultancy Services (TCS), Infosys, ICICI Bank, HDFC Bank.
RIL’s weightage in the index may increase by 0.68% to 12.5% from 11.8 percent. The cumulative inflows of Reliance Industries into the Sensex and Nifty are around $245 million, the brokerage highlighted. Meanwhile, IT majors TCS and Infosys may see outflows of $9 and $5 million, respectively, due to a 0.08% and 0.05% reduction in their weights.
On the other hand, HDFC Bank may lose up to 9.9% in Sensex while ICICI Bank may lose 0.06% to 7.8%. HDFC Ltd may also see an outflow of $6 million and its weightage in the index may decline marginally to 7.3%.
“In a recent announcement, S&P Global has informed us and participants that they will make adjustments on December 29, 2021. This will result in an inflow of USD 75 million which is a 0.3 ADV effect,” the brokerage said in a note. It likewise assumes that the Nifty index will apply the revised shareholding at its upcoming rebalancing on December 30, 2021 and the estimated inflow is approximately $170 million.
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