Jio Financial Services (JFSL) was removed from all BSE indices on Friday, September 1, 2023 and now, it is set to leave Nifty 50 and other NSE indices from September 7th, according to a statement released by NSE Indices. The decision to remove the stock was made because Jio Financial did not reach the price band in the last two trading sessions. This news comes almost a week after the stock was removed from Sensex and other BSE indices. On Monday, shares of the newly-listed stock from Reliance Industries surged up to 9% and exceeded its listing day price of Rs 262 on the NSE, after exchanges increased the circuit limit in the stock from 5% to 20%.
The stock was excluded because Jio Financial failed to reach the price band in the last two trading sessions.