BSE Replaces Wipro in Nifty 50, Triggering $246M Outflow for Wipro, $741M Inflow for BSE

BSE will replace Wipro in the Nifty 50 index effective September 30, marking a historic exit for the Bengaluru-based IT services company from India’s benchmark equity gauge. The reshuffle ends Wipro’s nearly uninterrupted presence in the Nifty 50 since the index’s inception. The company was briefly excluded between April and September 2013 following the demerger of its non-IT businesses, but has otherwise remained a constituent of the benchmark index for almost three decades.

According to estimates by Nuvama, Wipro’s exclusion could trigger passive outflows of about $246 million as index-tracking funds rebalance their portfolios. In contrast, BSE’s inclusion is expected to attract inflows of nearly $741 million.

The inclusion caps a remarkable run for BSE, whose shares have surged more than 2,600% over the last five years amid strong growth in trading volumes, derivatives activity and market participation.

The Nifty 50 overhaul is part of a broader review of NSE indices announced on Monday. The changes come amid significant shifts across India’s equity markets, with exchange operators, capital market infrastructure firms and manufacturing companies gaining prominence in benchmark indices.

Broader index changes

Alongside the Nifty 50 reshuffle, NSE’s review of the Nifty 500 index saw several companies excluded, including 3M India, Aditya Birla Fashion and Retail, Aditya Birla Lifestyle Brands, Bayer Cropscience, Blue Dart Express, Chalet Hotels, Go Digit General Insurance, Indegene, Jubilant Pharmova, Latent View Analytics, Sonata Software and Travel Food Services.

New additions to the Nifty 500 include Aether Industries, Avanti Feeds, Azad Engineering, Black Box, Brookfield India REIT, Embassy Office Parks REIT, Fractal Analytics, INOX India, Kirloskar Brothers, MTAR Technologies, Sansera Engineering, Sterlite Technologies and Vedanta Aluminium, among others.