The upcoming Nifty rejig could lead to estimated inflows of around $657 million, with BSE Ltd likely to be included in the benchmark index, replacing IT giant Wipro Ltd, a report has said.
A report by domestic brokerage Axis Capital said the NSE indices rebalancing announcement is expected in the second half of August 2026, with changes effective from September 30, 2026.
The eligibility assessment is based on six-month average data for the period February 1 to July 31, while current estimates use data up to May 15, it said.
The brokerage expects one constituent change in Nifty 50, five changes in Nifty Next 50, and no change in Nifty Bank.
“The flows are based on assumed benchmark fund AUMs of $45 billion,” the brokerage noted.
It added that the rejig could also trigger potential outflows of about $225 million from the Indian equity markets.
In the Nifty Next 50 index, possible inclusions include Polycab India, Hitachi Energy India, IndusInd Bank and ICICI Prudential AMC, while likely exclusions include Indian Hotels Company, REC Limited, Shree Cement, Zydus Lifesciences and Macrotech Developers.
The brokerage stated that the changes are based on index rebalancing estimates, with final announcements expected in August.
An index reshuffle is triggered only when at least one eligible stock’s Average Float Market Capitalisation (AFMC) rises above 1.5 times that of the smallest constituent in the index.
According to market experts, BSE currently meets this threshold, with its AFMC more than 1.5 times that of Wipro, making the IT stock the most likely candidate for exclusion from the index.
Assuming a single-stock replacement in the 50-share basket, estimated one-way passive inflows could be around $639 million.
At the last count, equity benchmarks were trading flat, recovering their early trade losses. Sensex was at 75,151, down 86 points or 0.12 per cent, while Nifty was trading at 23,592, lower by 50.65 points or 0.21 per cent.
Earlier in the day, both indices slipped nearly 1 per cent each before recovering losses in the morning trade.
