Two more banks to join S&P BSE Sensex

The S&P BSE Sensex will drop pharma majors Lupin and Cipla to make way for private bankers, Yes Bank and IndusInd Bank, effective December 18, 2017, Asia Index Private, which manages the bourses notified the reconstitution on Friday.

The stock of both the banks closed positive on Friday. The stock of Yes Bank closed at Rs. 306.45 per share, up by 1.62 per cent, IndusInd Bank was at Rs. 1,630.85 per share, 1.70 per cent. While, Cipla closed at Rs. 608.65 per share, up 2.64 per cent and Lupin was nearly flat at Rs. 829.45, up 0.02 per cent.

Interestingly, S&P BSE 100 Index will see the addition of Federal Bank, Grasim Industries, Vakrangee Limited and Bajaj Holdings & Investment. While United Breweries, Steel Authority of India, Canara Bank and Reliance Infrastructure will be moved out of the top 100 company index.

Federal Bank, Vakrangee Limited and Bajaj Holdings & Investment also find their way into the S&P BSE SENSEX Next 50 Index along with Bosch, Aurobindo Pharma and Ambuja Cements.