Adani Ports to replace Wipro in Sensex from June 24; Trent to enter Sensex 50

Adani Ports and Special Economic Zone, Infrastructure arm of billionaire Gautam Adani-led Adani Group, will be included in BSE Sensex from June 24, while IT major Wipro will be excluded from the top 30 stock index, as part of semi-annual reconstitution of S&P BSE indices. The BSE benchmark Sensex is a free-float market-weighted stock market index of 30 well-established and financially sound companies listed on the Bombay Stock Exchange.

With this, Adani Ports became the first stock from the 10-listed entities of Adani Group to enter the 30-pack Sensex. Adani Ports is already part of the Nifty50 index along with the group’s flagship company, Adani Enterprises.

The inclusion of Adani Ports in Sensex index came in as a surprise for the market, as it was widely speculated that Adani Enterprises would replace Wipro on the BSE Sensex index. Adani Enterprises is the most valued stock among group companies with a market capitalisation (m-cap) of ₹3.85 lakh crore. IIFL Alternative Research had said in a note that the inclusion of Adani Enterprises to Sensex would result in inflows worth $118 million (nearly ₹1,000 crore) from passive funds tracking the index.

Ahead of the announcement, Adani Ports shares ended 1.89% lower at ₹1,415.75, with a market capitalisation (m-cap) of ₹3.05 lakh crore on the BSE. On the other hand, Wipro shares settled 0.52% lower at ₹463.50 on the BSE, with a m-cap of ₹2.42 lakh crore.

As part of the semi-annual rebalancing exercise, Page Industries, SBI Cards, ICICI Prudential Life Insurance, Jubilant FoodWorks, Zee Entertainment Enterprises will be replaced by REC Ltd, HDFC AMC, Canara Bank, Cummins India, Punjab National Bank in the S&P BSE 100 index.

In the S&P BSE Sensex 50 index, Tata Group’s retail arm, Trent, will replace pharma company Divi's Laboratories.

The release shows that AU Small Finance Bank and IDFC First Bank will be replaced by Yes Bank and Canara Bank, respectively, in the S&P BSE Bankex index.

In the S&P BSE Sensex Next 50 list, REC, Punjab National Bank, Divi's Laboratories, HDFC Asset Management Company, Canara Bank, and Cummins India will replace Trent, Page Industries, SBI Cards and Payment Services, ICICI Prudential Life Insurance Company, Jubilant FoodWorks, and Zee Entertainment Enterprises.

The list was released by Asia Index Private Limited, a 50-50 partnership between S&P Dow Jones Indices and BSE Ltd, with the reconstitution results coming into effect from the open of trade on June 24, 2024.