HDFC Bank, Jio Financial, Adani Power to be in focus ahead of Nifty rejig on Thursday

The rejig exercise will also see significant inflows in six other stocks viz. ($66 million), (PFC, $45 million), ($43 million), Mahindra & Mahindra (M&M, $42 million) ($26 million) and (IRFC $23 million).

As part of the rejig exercise, certain stocks are expected to witness outflows as well. The highest outflow is seen in the (SBI $103 million), UPL ($95 million), ($77 million) and ($32 million).

Others which are likely to see outflows include ($32 million), ($31 million), (RIL, $29 million), Kotak Mahindra Bank ($21 million), Bharat Electronics (BEL, $1 million ) and Infosys ($16 million), Nuvama said in a note.

UPL will move out from the Nifty50 index as a result of Shriram Finance's entry.

In Nifty Bank key Inflows are in HDFC Bank ($123 million) and IndusInd Bank ($18 million) while key outflows are in SBI ($95 million), ICICI Bank ($57 million), Axis Bank ($15 million) and Kotak Bank ($14 million).

In the CPSE Index, inflows will be seen in NTPC ($71 million), NHPC ($13 million), and NLC ($10million). The substantial outflows are in ONGC ($29 million), Coal India ($28 million), and BHEL ($20 million)

In the Nifty Next 50, the inclusions are Jio Fin ($80 million), Power Finance Company ($48 million), Adani Power ($45 million), REC ($45 million), and IRFC ($23 million). The exclusions will be Shriram Finance, PI Inds ($32 million), Muthoot Finance ($15 million), P&G Health ($12 million) and Adani Wilmar ($ 7 million).

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