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Market move▼ Bearish for BSE
Why BSE stock tanked 3.5% despite Nifty inclusion post index reshuffle - What lies ahead for investors?
The brief
- BSE shares fell 3.5% to ₹3,092 despite Nifty 50 inclusion
- Stake sales by Goldman Sachs and BNP Paribas counteracted positive index inclusion
- BSE’s decline highlights near-term selling pressure for exchange investors despite index inclusion
- Sequoia Capital, Peak XV Partners sell over 4% stake in Mamaearth parent; Goldman Sachs, BNP Paribas offload 1.67% stake in BSE
- Competition Commission okays BNP Paribas-IndiaFirst Life Insurance deal
- EIB and BNP Paribas sign €700 million grid guarantee deal
- Rising oil prices, inflation to create headwinds for India's economic growth: BNP Paribas
- Nebius shares rally up to 8%: What’s driving the AI rally?
BSE replaces Wipro in the Nifty 50
BSE entered the Nifty 50 on 30 September, replacing Wipro. Its six-month average free-float market capitalisation was ₹1,40,879 crore, compared with Wipro’s ₹55,930 crore; Goldman Sachs and BNP Paribas sold 68.33 lakh BSE shares worth about ₹2,186.44 crore ahead of the inclusion.
Wednesday, 30 September
- Why BSE stock tanked 3.5% despite Nifty inclusion post index reshuffle - What lies ahead for investors?