Nifty rejig this week: Here’s what Nuvama expects

HDFC Bank, Trent, Adani Enterprises, Power Grid, and Punjab National Bank (PNB) are among the few stocks likely to receive strong net passive inflows as a result of the upcoming NSE index changes, including Nifty Bank, Nifty, Nifty Next 50, and CPSE. These adjustments are set to take place on September 29, following scheduled changes on September 28 during the semi-annual reshuffling.

According to Nuvama Institutional Equities, HDFC Bank is expected to receive the highest inflows of $89 million. Other stocks such as Power Grid are likely to get around $64 million inflows, Shriram Finance ($59 million), and Trent ($54 million). TVS Motor is likely to get a $40 million inflow, and PNB and Adani Enterprises could get around a $21 million inflow each.

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On the flip side, NTPC may see outflows of $46 million, followed by Page Industries ($28 million), HDFC AMC ($25 million), IndusInd Bank ($23 million), ACC ($19 million), Indus Tower ($14 million), and Adani Ports ($14 million).

Among CPSE index stocks, ONGC, Coal India, Bharat Electronics, NHPC, Oil India, and Cochin Shipyard are expected to experience marginal outflows. Within the Nifty Bank constituents, Axis Bank, ICICI Bank, Bank of Baroda, AU SFB, and Federal Bank may witness some outflows due to lower weights.

In the Nifty index, ITC and Tata Consumer may see marginal inflows, while Wipro, JSW Steel, Reliance Industries, and Infosys may experience marginal outflows.

In the Nifty Next 50, Zydus Life may get $17 million inflows, while the exclusion names include Page Industries which may see an outflow of $28 million, HDFC AMC ($25 million), ACC ($19 million), and Nykaa ($10 million).

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