Nifty50 may see one change, Next50 seven in March rejig, shows data

The cutoff date for calculating the changes to various Nifty indices is January 31. The index provider typically announces the outcome of the rebalancing exercise during the second half of February

NBFC major Shriram Finance is likely to dislodge agro-chemical firm UPL in the Nifty50 during the March 2024 rebalancing exercise. The move may lead to $245 million worth of passive buying in Shriram Finance and $107 million worth of selling in UPL, according to a report by Nuvama Alternative & Quantitative Research.

The cutoff date for calculating the changes to various Nifty indices is January 31. The index provider typically announces the outcome of the rebalancing exercise in the second half of February and the changes become effective from March 31. Nuvama also expects Canara Bank to replace Bandhan