Shriram Finance, HDFC Bank to see most inflows from Nifty’s semi-annual rejig

The semi-annual rejig of Nifty indices on March 28 is expected to result in cumulative inflows of $188 million in Shriram Finance, $94 million in HDFC Bank, $80 million in Jio Financial Services, $66 million in NTPC, $45 million in Adani Power and $45 million in Power Finance Corporation. Top outflows are expected in SBI ($103 million), UPL ($95 million) and ICICI Bank ($77 million).

In Nifty 50, Shriram Finance ($260 million) will displace UPL. Major inflows are expected in M&M ($42 million), Bharti Airtel ($26 million) and Axis Bank ($18 million); while slight weight reduction led outflows may be seen in RIL ($29 million), HDFC Bank ($29 million) and ICICI Bank ($20 million).

In Nifty Bank index, key inflows are expected in HDFC Bank ($123 million) and IndusInd Bank ($18 million), while key outflows are in SBI ($95 million) and ICICI Bank ($57 million).

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