BSE Limited came into focus after an earlier Axis Capital note suggested that the stock could be included in the Nifty 50, potentially leading to inflows of nearly $657 million. The same note indicated that Wipro could be excluded from the index, resulting in possible outflows of around $225 million.
However, the analysis is now being questioned by other brokerages and market participants, who believe the view may be flawed or erroneous based on current index eligibility rules.
According to a quant analyst rationale shared by other brokerages, BSE is currently not part of the Nifty 100 index. Since only constituents of the Nifty 100 index that are available for trading in NSE’s Futures and Options segment are eligible for inclusion in the Nifty 50, BSE may not qualify for the current review.
The rationale further stated that BSE was not included in the Nifty 100 because the stock was not among the top 90 companies based on average full market capitalisation using six-month data ending January 31, 2026.
As per the review framework, the Nifty 50 index is reviewed semi-annually based on six-month data ending January and July. Any stock replacement in the Nifty 50 is implemented from the last trading day of March and September. Adhoc reviews are conducted only for events involving the exclusion of an existing index constituent.
This means that unless BSE becomes eligible through the Nifty 100 framework, its inclusion in the Nifty 50 for the current review may not be possible.
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