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Wipro replaces Bajaj Auto on BSE Sensex from today; Bank of Baroda joins Bankex in place of City Union Bank; 2 Adani stocks enter BSE 100

Stocks like Biocon, Power Finance Corp, Torrent Pharma, and REC has been replaced by Adani Transmission, Adani Total Gas, SRF and Max Financial Services on BSE 100.

December 20, 2021 11:39 IST | India Infoline News Service
The semi-annual rebalancing of BSE Sensex has come into effect from today onward. Under the latest update, IT-giant Wipro has replaced two-wheeler major Bajaj Auto on BSE Sensex.

At around 11.26 am, Wipro is trading at Rs671.90 per piece up by 0.3% on Sensex. While Bajaj Auto performed at Rs3067.75 per piece nosediving by 3.4% on BSE Sensex.

Further, changes are made in the BSE Bankex as well with Bank of Baroda replacing City Union Bank on the index.

Bank of Baroda traded at Rs81.15 per piece down by 4.4%, while City Union Bank slipped over 5.2% at Rs132.70 per piece.

Stocks like Biocon, Power Finance Corp, Torrent Pharma, and REC has been replaced by Adani Transmission, Adani Total Gas, SRF and Max Financial Services on BSE 100.

So far this year, both Adani Group stocks has given between 300-400% return, while SRF stock has nearly doubled investors wealth this year.

Meanwhile, Biocon has gave up one-fourth of its current stock value so far this year, whereas Power Finance Corp, Torrent Pharma and REC underperformed benchmark Sensex with flat returns.

Adani Transmission and Adani Total Gas has hit 5% lower circuit. SRF dipped over 5.3% and Max Financial Services slipped 2.4%. Also, Biocon traded marginally lower, Power Finance Corp dived over 3%, Torrent Pharma shed over 1% and REC dipped over 3.5%.

The downside in the above mentioned stocks is due to a broad-based selloff in Indian markets today.

A panic sell-off was witnessed in Indian markets on Monday. Benchmarks Sensex and Nifty 50 were in a bloodbath due to bearish tone in all sectoral indices as they tracked weak global cues as the rapid spread of Omicron virus variant has now led to tighter Covid restrictions in major economy Europe which has escalated the fear of a slowdown in the global economy in the new year. Appetite for equities looked bleak as investors currently cash in their gains projecting further volatility in the markets going forward. Other economies are now expected to follow suit with renewed and stricter Covid restrictions.

BSE Sensex was trading below 55,600 with more than 2.5% drop. 

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