Nuvama predicts $35 million inflow as Tata Motors is set to replace Dr Reddy’s in Sensex

Changes from the S&P BSE Sensex semi-annual rebalance (SAIR) will come into effect from the opening of market hours on December 19

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S&P BSE Sensex semi-annual rebalance (SAIR) is scheduled for December 16 in which Tata Motors will replace Dr Reddy’s. This rejig will lead to a net inflow of $35 million, according to Nuvama Alternative & Quantitative Research.

This includes $100-million outflow from exclusion of Dr Reddy’s, with a weightage of 0.8 percent on the index and $135 million inflow from inclusion of Tata Motors, with a weightage of 1.1 percent. This will happen due to portfolio rejigs by exchange traded funds and asset management companies.

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The changes will come into effect from the opening of market hours on December 19, as per a release shared by the BSE, which operates Asia Index in partnership with S&P Dow Jones Indices LLC.

From S&P BSE 100 and S&P BSE Sensex Next 50 indices, the stocks of Adani Total Gas and Hindustan Petroleum Corporation will be removed, and Adani Power and Indian Hotels Company will be added. Meanwhile, no changes had been announced to the S&P BSE Sensex 50 and S&P BSE BANKEX indices.

On December 15, Sensex ended lower by 878.88 points or 1.40 percent at 61,799.03 on the back of weak global cues.