Jio Financial's exclusion from BSE indices postponed by another 3 days

Removal of Jio Financial Services (Jio Fin) from the benchmark Nifty50 and the Sensex was deferred by three more days on Friday. The decision was taken by stock exchanges after the firm’s stock hit the lower limit in the preceding two trading sessions. 

However, the shares of the financial unit spun off from Reliance Industries Ltd (RIL) showed signs of stabilising. Jio Fin ended at Rs 221.6, up 3.8 per cent on the NSE, where Rs 5,848 crore worth of shares changed hands. Another Rs 740.52 crore worth of shares changed hands on the BSE, where the stock ended at Rs 212, down 1.7 per cent. BSE has said that the stock will now be removed from the Sensex on August 31.
 

 

Jio Fin was expected to sell worth over Rs 7,300 crore from exchange-traded funds and global depository receipt holders.
 

Analysts said that the selling pressure on the stock could ease over the next few days. Investors are also looking for cues from RIL’s annual general meeting on Monday.