Shares of BSE gave up a large part of their intraday gains on Monday after hitting a fresh 52 week and record high during the trading session.
The stock climbed to an intraday high of Rs 4,298.90 before witnessing sharp profit booking. As of 1:47 PM, BSE shares were trading around Rs 4,216.50, still up over 2.3% for the day compared to the previous close of Rs 4,120.70.
The rally in the stock came amid discussions around BSE’s possible inclusion in the Nifty 50 index following an earlier Axis Capital note, which had projected potential inflows of nearly $657 million if the stock gets included in the benchmark index.
However, several market participants and brokerages later questioned the possibility of inclusion in the current review cycle. According to analysts, BSE is currently not part of the Nifty 100 index, which is a key eligibility requirement for inclusion in the Nifty 50.
As per the eligibility framework, only stocks that are part of the Nifty 100 and available in NSE’s Futures and Options segment can be considered for inclusion in the Nifty 50 index.
The stock remains one of the best performing exchange-related counters over the past year, with BSE’s market capitalisation currently standing near Rs 1.72 lakh crore.
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