Bank Nifty adjustment on Friday, several stocks likely to see churn

HDFC Bank, IndusInd Bank and AU Small Finance Bank to see highest inflows due to increase in weightage; SBI, ICICI Bank and Kotak Mahindra Bank may see highest outflows

Several banking stocks are expected to see a churn on Friday on account of the rebalancing exercise in the Bank Nifty index. According to analysts, HDFC Bank (inflows of $51 million), IndusInd Bank ($25 million) and AU Small Finance Bank ($11.2 million) will see the highest inflows on account of an increase in their weightage. On the other hand, State Bank of India (outflows of $49 million), ICICI Bank ($38 million) and Kotak Mahindra Bank ($20 million) could see the highest outflows as their weightages have been revised downwards. The Bank Nifty index is tracked by passive funds with assets