A big change is going to be implemented in the stock market from tomorrow i.e. 30th September 2026. The country’s oldest exchange BSE is going to be included in the Nifty 50, the flagship index of the National Stock Exchange (NSE). With this, Wipro, a well-known company in the IT sector, will be removed from this big index. This significant change is part of the market’s semi-annual index rebalancing. This decision will have a direct impact on the investment in the shares of these two companies, on which investors are keeping a keen eye.

Market cap became the main reason for the change

The biggest reason for BSE’s inclusion in the Nifty 50 is its ever-increasing market cap. If we look at the last six months of data, the average free-float market cap of BSE is Rs. 1,40,879 crore has been. This figure is higher than Wipro’s Rs. 55,930 crore is at least one and a half times more than the market cap. According to the rules, the market cap of the new company should be more than that of the smallest exiting company. To fulfill this condition, NSE announced the inclusion of BSE in the index in August.

Investment flows will be affected

Joining the Nifty 50 is expected to benefit BSE immensely. As per Axis Capital’s estimates, BSE could see an investment of around $657 million. It is believed that passive index funds could buy around 1.57 crore shares of BSE. On the other hand, Wipro will suffer from being left out of the index. There is every possibility of withdrawing $225 million from the company. This means index funds can sell about 11.42 crore shares of Wipro. Either way, Wipro shares are under pressure. Its shares have fallen 40 percent since the beginning of this year.

Mixed reaction from brokerage firms

Market experts have different views on the future of BSE stocks. International brokerage firm Macquarie has given BSE an ‘outperform’ rating. It has set its target price at Rs 4,000. This is BSE’s Rs. 3,191.50 representing a gain of over 25 percent from the previous closing price. Macquarie believes that the company has excellent earnings growth potential.

However, Jefferies has expressed concern and has been charged Rs. Given an ‘underperform’ call with a target of 2,940. Jefferies pointed out risks like increase in STT, RBI’s bank guarantee rules. While Nuwama downgraded its rating to ‘Hold’ last month. Nuwama has set a target price of Rs. 4,090 to Rs. 3,240 has been done. He believes that the new Closed Auction Session (CAS) has created a lot of confusion among traders, which has led to reduced participation.

Nifty Next 50 will see a lot of ups and downs

Apart from the Nifty 50, the Nifty Next 50 index is also going to undergo some major changes. Wipro, which was outside the Nifty 50, will now be part of this index. Along with this, important companies like Polycab India, Vedanta Aluminum Metal, Hitachi Energy India are also ahead in the race to get involved. On the other hand, Lodha developers including Indian Hotels Company, REC, Shree Cement, United Spirits will be shown a way out of this list.

Currently, the impact of global tensions is clearly visible on the stock market. According to Choice Broking analyst Hitesh Taylor, uncertainty over the US-Iran talks has pushed Brent crude past $106. Continued selling by foreign investors (FIIs) is dampening market sentiment, though buying by domestic institutional investors may provide some support. There is every possibility of ups and downs in the market.