Nifty rejig: IT major Wipro to move out of benchmark index after BSE gets inclusion

Wipro will move out of the Nifty index, while BSE Ltd will enter India’s benchmark 50-stock index as part of the semi-annual review by NSE Indices. The changes will take effect from September 30, 2026, meaning they will be effective after the close of trade on September 29, 2026, NSE Indices said in a release dated August 10.

BSE has been included in the Nifty after its six-month average free-float market cap crossed the required threshold. NSE Indices said BSE's average free-float market cap stood at Rs 1.4 lakh crore, which was at least 1.5 times the six-month average free-float market cap of the smallest Nifty constituent, Wipro.

Wipro’s average free-float market cap, meanwhile, stood at Rs 55,930 crore. The replacement will also apply to the Nifty50 Equal Weight index.


The move marks a major index change for Wipro, one of India’s oldest listed IT companies. Its exit from the Nifty comes at a time when the IT sector has faced pressure from weak discretionary technology spending, slower client decision-making and concerns over growth in traditional outsourcing services. Shares of Wipro have fallen nearly 31% this year.

BSE's entry reflects the strong re-rating of capital market-related businesses. Shares of exchanges, brokers, depositories and other market infrastructure firms have benefited from higher retail participation, rising derivatives activity, increased demat penetration and growing financialisation of household savings.

NSE Indices said only stocks available for trading in NSE’s futures and options segment are eligible for inclusion in the Nifty. It also said the next two eligible companies, TVS Motor and Divi’s Labs, were not considered for inclusion because the average free-float market cap of the two smallest remaining Nifty constituents was less than 1.5 times their six-month average free-float market cap.

TVS Motor had a six-month average free-float market cap of Rs 84,566 crore, while Divi’s Labs stood at Rs 82,930 crore. NSE Indices said HDFC Life Insurance Company and Tata Consumer were the two Nifty constituents with the lowest average free-float market cap after Wipro’s exclusion, at Rs 65,666 crore and Rs 73,054 crore, respectively.

The rejig could lead to passive fund flows into BSE and out of Wipro, as index funds and exchange-traded funds tracking the Nifty adjust their portfolios before the effective date.

Such changes usually trigger buying in the incoming stock and selling in the outgoing stock by passive funds, though the actual market impact depends on positioning, liquidity and the size of assets tracking the index.

Nifty100 changes

The broader review also made changes to several other indices. In the Nifty100, BSE, Hitachi Energy India, Polycab India, Vedanta Aluminium Metal and Vodafone Idea will be included, while Indian Hotels, Lodha Developers, REC, Shree Cement and United Spirits will be excluded.

Wipro will move to the Nifty Next 50 as part of the same review. Hitachi Energy India, Polycab India, Vedanta Aluminium Metal, Vodafone Idea and Wipro will be included in the Nifty Next 50, while Indian Hotels, Lodha Developers, REC, Shree Cement and United Spirits will be excluded.