BSE set to enter Nifty50 in September rejig, replacing Wipro: Axis Capital
Synopsis
BSE Ltd is on course to enter the Nifty50 for the first time, bumping out Wipro in what could be the index's most consequential reshuffle in years. With $657 million in estimated passive inflows at stake and five simultaneous changes expected in the Nifty Next 50, the August 2026 announcement will be closely watched by fund managers tracking benchmark exposure.
Key Takeaways
BSE Ltd is likely to replace Wipro in the Nifty50 index, effective 30 September 2026 , per an Axis Capital report.
The rejig could trigger estimated passive inflows of $657 million and outflows of $225 million .
BSE's AFMC is reportedly more than 1.5 times that of Wipro, meeting the NSE's reshuffle threshold.
The Nifty Next 50 could see five changes , with Polycab India , Hitachi Energy India , IndusInd Bank , and ICICI Prudential AMC as likely entrants.
Official NSE rebalancing announcement is expected in the second half of August 2026 .
BSE Ltd is likely to be included in the Nifty50 index in the upcoming rebalancing cycle, replacing IT major Wipro Ltd, according to a report by domestic brokerage Axis Capital. The reshuffle, if confirmed, could trigger estimated passive inflows of around $657 million into Indian equities.
Key Developments
Axis Capital expects the NSE indices rebalancing announcement in the second half of August 2026, with changes taking effect from 30 September 2026. The eligibility assessment draws on six-month average data covering 1 February to 31 July, though current estimates use data only up to 15 May.
The brokerage anticipates one constituent change in the Nifty50, five changes in the Nifty Next 50, and no change in the Nifty Bank index.
Why BSE Could Replace Wipro
An index reshuffle is triggered only when at least one eligible stock's Average Float Market Capitalisation (AFMC) exceeds 1.5 times that of the smallest constituent in the index. According to market experts, BSE currently meets this threshold — its AFMC is more than 1.5 times that of Wipro, making the IT stock the most likely candidate for exclusion.
Assuming a single-stock replacement in the 50-share basket, estimated one-way passive inflows could reach approximately $639 million. The brokerage also flagged potential outflows of about $225 million from Indian equity markets as a result of the broader rejig. Passive fund flows are calculated on assumed benchmark fund AUMs of $45 billion, the brokerage noted.
Nifty Next 50: Five Changes Expected
The Nifty Next 50 index faces a more significant churn. Likely inclusions are Polycab India, Hitachi Energy India, IndusInd Bank, and ICICI Prudential AMC. Likely exclusions include Indian Hotels Company, REC Limited, Shree Cement, Zydus Lifesciences, and Macrotech Developers.
Market Snapshot
At the time of reporting, equity benchmarks were trading flat after recovering early losses. The Sensex was at 75,151, down 86 points or 0.12%, while the Nifty was at 23,592, lower by 50.65 points or 0.21%. Both indices had slipped nearly 1% each in early trade before paring losses.
Final announcements from the NSE are expected in August 2026, and all current projections remain estimates pending the official eligibility assessment.
Point of View
With front-running by active funds increasingly distorting price discovery around announcement windows. The final picture depends on data through July — the August announcement could still surprise.
NationPress
4 Jul 2026
Frequently Asked Questions
Which stock is likely to replace Wipro in the Nifty50?
BSE Ltd is the most likely candidate to replace Wipro in the Nifty50, according to an Axis Capital report. BSE's Average Float Market Capitalisation is reportedly more than 1.5 times that of Wipro, meeting the NSE's mandatory threshold for a reshuffle.
When will the Nifty50 rebalancing take effect?
The NSE indices rebalancing announcement is expected in the second half of August 2026, with changes effective from 30 September 2026. All current projections are estimates pending the official eligibility assessment.
How much passive inflow could the Nifty rejig trigger?
The rejig could trigger estimated one-way passive inflows of around $657 million, based on assumed benchmark fund AUMs of $45 billion, according to Axis Capital. Potential outflows from the broader reshuffle are estimated at about $225 million.
What changes are expected in the Nifty Next 50?
Axis Capital expects five constituent changes in the Nifty Next 50. Likely inclusions are Polycab India, Hitachi Energy India, IndusInd Bank, and ICICI Prudential AMC, while Indian Hotels Company, REC Limited, Shree Cement, Zydus Lifesciences, and Macrotech Developers are likely to exit.
What triggers an NSE index reshuffle?
An NSE index reshuffle is triggered when at least one eligible stock's Average Float Market Capitalisation rises above 1.5 times that of the smallest constituent in the index. BSE currently meets this criterion relative to Wipro, making it eligible for Nifty50 inclusion.
