Sensex, FTSE reshuffle next week: Adani stocks, RIL, Zomato may get impacted

A reshuffle in FTSE index on June 16 is expected to lead to a net inflow of $150-200 million in the Indian equity market while a Sensex rejig is unlikely to see much of a flow impact. However, as a result of the reshuffle of the weightage of individual stocks in the two indices, a number of counters are likely to be impacted.

An analysis done by Nuvama Institutional Equities shows that as a result of the FTSE rejig, Adani Enterprises may get an inflow of $71 million while India's largest company by market capitalisation, Reliance Industries (RIL), may also witness an inflow of $68 million.

Other Adani stocks that may see inflows are Adani Transmission, Adani Green and Adani Ports but the conglomerate's cement arm ACC may get negatively hit with an outflow of $3 million.
Among other stocks that may see inflows from passive funds as a result of the FTSE rejig are Wipro, PNB, Bajaj Finance and Godrej Properties.


On the other hand, IT majors Infosys, HCL Tech and TCS are likely to be the worst hit with expected outflows of about $34 million, $15 million and $8 million, respectively, according to Nuvama. On the outflow list are also Zomato, Asian Paints and Axis Bank.

Coinciding with the FTSE adjustment on June 16 will be a reshuffle in Sensex. Changes in both the indices will come into effect on June 19.

Sensex rejig is expected to be positive for merger-bound HDFC twins, ICICI Bank as well as ITC.

On the other hand, the weightage of Infosys, RIL, TCS, L&T and HUL is likely to be reduced leading to outflows.