The inclusion of Tata Group-owned Trent Ltd and Bharat Electronics Ltd (BEL) in the benchmark 30-stock BSE Sensex index will likely result in an inflow of $708 million.
Trent is expected to see an inflow of $330 million, while the aerospace and defence electronics company BEL could see $378 million in inflows, according to Nuvama Alternative estimates.
However, Nestle and IndusInd Bank are likely to see outflows of $230 million and $145 million, given that they were excluded from the Sensex gauge in the latest index rebalancing.
Friday promises to be an action-packed day with two major semi-annual index rebalances lined up, Sensex and FTSE, Nuvama said in a note. “Historically, Sensex inclusions tend to see intraday upmoves, supported by stronger volumes, and a similar trend could play out this time as well.”
During the day, the Sensex index rose as much as 1.01 per cent, or 824.5 points, to 82,186, while the Nifty50 index rose 1 per cent, or 247 points, to 25,040.
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Further, UltraTech Cement is expected to see an inflow of $4 million after its weights were increased, while HDFC Bank, Bharti Airtel, Reliance Industries, ICICI Bank, Infosys, Sun Pharmaceuticals, Larsen & Toubro, ITC, TCS, Axis Bank, Kotak Mahindra Bank and State Bank of India are likely to see outflows after their weights were reduced.
These changes will take effect from the start of trading on June 23, 2025. “Index rejigs are a key event for the market because they help the market participants gauge the direction in which the funds are moving,” the BSE noted earlier. These periodic updates help ensure the index continues to represent India’s evolving market trends.
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FTSE rejig
The changes in the London-based Financial Times Stock Exchange index are likely to result in an inflow of $150 million into the domestic market, as per Nuvama’s ‘best-effort’ estimates. The inflows are largely driven by the inclusion of Vishal Mega Mart, which is expected to see about $115 million, as per the brokerage.
In addition to that, Hyundai Motor, Waaree Energies, Swiggy, NTPC Green Energy, Onesource Specialty Pharma, Afcons Infrastructure, Sai Life Science, and Inventurus Knowledge Solutions are expected to see inflows given their additions to the FTSE key index.
Siemens Energy to exit from MSCI Global Standard Index
Nuvama also noted that the shares of Siemens Energy will be deleted from the MSCI Global Standard Index after it was demerged from Siemens India. The estimated passive outflow is approximately $210 million, translating to around 7 million shares, the brokerage said.
Siemens demerged on April 7, 2025 and Siemens ex-Energy price opened at ₹2,450 and implied ₹2,478 share value for the Siemens Energy India entity.
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