EQUITIES

HDFC Life Insurance enters Nifty50 index

The changes shall become effective from July 31, NSE Indices stated.The changes shall become effective from July 31, NSE Indices stated.

With vedanta being excluded from 11 out of the 12 indices of the NSE due to the firm’s proposed voluntary delisting, HDFC Life Insurance Company becomes the new entrant in the Nifty50 index.

Vedanta has been replaced from 11 indices, including the Nifty50, Nifty500, Nifty100, Nifty Large Midcap 250 and Nifty 200, among others. At the same time, SBI Cards and Payments is the new entrant in five indices, including the Nifty Next50, Nifty100 and Nifty500. The changes shall become effective from July 31, NSE Indices stated.

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The index methodology comprises multiple criteria like liquidity, trading frequency and float adjusted market-cap for a stock to be included in the index. For inclusion in the index, the security should have traded at an average impact cost of 0.50% or less during the past six months for 90% of the observations for portfolio of Rs 10 crore.

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