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BSE enters Nifty 50, replacing Wipro in index reshuffle
BSE shares sank nearly 4% after the reshuffle took effect, with the stock opening at ₹3,138.90 on the NSE before trading between ₹3,075 and ₹3,149 intraday.
BSE shares fell nearly 4% after the exchange began trading on the Nifty 50 index for the first time on Wednesday, Sept. 30. As part of the NSE’s twice-a-year index rebalancing, BSE replaced Wipro in the Nifty 50, while Wipro moved to the Nifty Next 50.
The Nifty 50 rebalancing was conducted on Tuesday, Sept. 29, aligned with the monthly derivatives expiration. On the NSE, BSE opened at ₹3,138.90, with an intraday high of ₹3,149 and an intraday low of ₹3,075.
Technical analyst Rajesh Bhosale at My Advisor Alpha said BSE is trading more than 2.5% lower and remains below key moving averages, suggesting near-term weakness. He added that the stock could face continued pressure until it decisively crosses ₹3,300, and noted ₹2,950 as the next key support level.
Brokerage views were split, with Macquarie positive on BSE’s long-term growth, while Bernstein and Nuvama Institutional Equities expressed caution amid moderating earnings forecasts.