NSE Indices has announced comprehensive semi-annual rejig changes across Nifty 500, Nifty 100 and Nifty Next 50, effective September 30, 2026. According to the latest NSE Indices release dated August 10, 2026, the changes will take effect after the close of trade on September 29, 2026. The rejig involves five changes each for both the Nifty 100 and Nifty Next 50 indices, with the same changes applying to the Nifty 100 Equal Weight index. The replacements are part of the periodic review conducted by the Index Maintenance Sub-Committee (Equity), with stocks available for trading in NSE's Futures & Options segment being only eligible for index inclusion.
BSE is set to receive $700 million in passive inflows following its entry into the Nifty 50, with the stock expected to carry a 1.3% weightage in the index. As per Nuvama Alternative & Quantitative Research, the brokerage estimates $695 million of buying in BSE from Nifty 50-linked funds, involving approximately 18 million shares, equivalent to around six times BSE's average daily trading volume. Nikunj Saraf, CEO of Choice Wealth, estimates the overall passive flow impact at a net $622 million, or 16.5 million shares, equivalent to 5.6 times BSE's average daily trading volume. Saraf expects 85-90% of the buying to come from domestic ETFs and index funds, with global Nifty 50 trackers contributing a smaller share. The immediate demand is largely mechanical, but analysts expect the impact of index membership to extend beyond the September rebalance as every incremental rupee flowing into Nifty 50 passive funds now buys BSE too.
The Nifty 100 will see five replacements with Indian Hotels, Lodha Developers, REC, Shree Cement and United Spirits moving out of the index. According to the latest NSE Indices release, five companies will be added - BSE, Hitachi Energy India, Polycab India, Vedanta Aluminium Metal and Vodafone Idea. The same constituent changes will also be reflected in the Nifty 100 Equal Weight Index. The Nifty Next 50 will undergo five replacements with Indian Hotels, Lodha Developers, REC, Shree Cement and United Spirits exiting, while Hitachi Energy India, Polycab India, Vedanta Aluminium Metal, Vodafone Idea and Wipro will be added. Notably, Wipro's entry into the Nifty Next 50 comes after its exclusion from the Nifty 50, marking a significant shift in the company's index positioning.
The Nifty 500 will undergo a significantly broader reshuffle, with 27 stocks excluded and 27 new ones added. Among the companies exiting the index are 3M India, Aditya Birla Fashion and Retail, Bayer Cropscience, Bikaji Foods International, Blue Dart Express, Go Digit General Insurance, Indegene, Latent View Analytics, Newgen Software Technologies, Niva Bupa Health Insurance, Pfizer, Saregama India, SBFC Finance, Sonata Software and Travel Food Services. The new entrants include Aether Industries, Avanti Feeds, Azad Engineering, Bagmane Prime Office REIT, Bharat Coking Coal, Black Box, Brookfield India Real Estate Trust, Clean Max Enviro Energy Solutions, Cupid, Embassy Office Parks REIT, Fractal Analytics, INOX India, Rubicon Research, Sterlite Technologies, TD Power Systems, Thangamayil Jewellery, Vedanta Aluminium Metal, Vedanta Iron and Steel, Vedanta Oil and Gas and Vedanta Power.
According to Arihant Bardia, CIO and Founder of Valtrust, BSE will now be eligible for investment by a much larger pool of benchmark-linked institutional capital, which can translate into greater institutional ownership, trading liquidity, analyst coverage and visibility. He noted that an index is supposed to reflect where investors are putting their money, but increasingly, it is also influencing where that money goes. Nikunj Saraf expects the longer-term benefit could come through a better quality of ownership and lower cost of capital rather than another immediate trigger for the stock. However, analysts said that much of the expected benefit could already be reflected in BSE's share price, which has risen sharply ahead of its inclusion. The sustainability of the valuation will ultimately depend on the exchange's earnings and business performance rather than its index membership alone.
