Street Signs: Fresh legs for Sensex relay, GIFT brokers eye global play

Trent and Bharat Electronics (BEL) are likely to be added, while IndusInd Bank and Nestle India may be dropped from the 30-stock index, said an analyst

Fresh legs for Sensex relay: Trent, BEL near baton pass

 

The review period for the June rebalance of the BSE Sensex has ended, and changes are expected to be announced four weeks ahead of the June 20 effective date. According to Brian Freitas, an analyst at Periscope Analytics who publishes on Smartkarma, Trent and Bharat Electronics (BEL) are likely to be added, while IndusInd Bank and Nestlé India may be dropped from the 30-stock index. IndusInd also risks exclusion from the NSE Nifty 50 in September. Passive funds could buy shares worth ₹2,700 crore each in Trent and BEL, while Nestlé and IndusInd may see outflows of ₹2,051 crore and ₹1,328 crore, respectively.

 

Five more join the futures parade as NSE expands roster

 

Starting May 30, the National Stock Exchange (NSE) will include five more stocks in its derivatives segment: Bharat Dynamics, Kaynes Technology India, Mankind Pharma, Mazagon Dock Shipbuilders, and Rail Vikas Nigam. This will raise the total number of stocks with derivatives contracts to 221. Since the Securities and Exchange Board of India revised its eligibility criteria in August 2024, nearly 40 stocks have been added, laying the groundwork for future index derivatives. NSE currently offers derivatives contracts on five indices: Nifty, Nifty Bank, Nifty Financial Services, Nifty Midcap Select, and Nifty Next 50. BSE offers derivatives contracts on three indices: Sensex, Bankex, and Sensex 50. Most of the underlying stocks in these indices must first be part of the futures and options segment. 

 

Trading without borders: GIFT City brokers may get passport to global markets

 

After the Securities and Exchange Board of India eased restrictions on brokers operating out of Gujarat International Finance Tec-City (GIFT City), the International Financial Services Centres Authority (IFSCA) issued a further set of guidelines covering net worth criteria and client onboarding protocols. This framework aims to help Indian brokers at GIFT-IFSC access international markets and attract overseas investors. The proposals allow broker-dealers to route trades through a Global Access Provider — a platform that connects investors to products and services listed on multiple foreign exchanges. If approved, the move could open new revenue streams for brokers operating from GIFT City.