Adani Ports has ousted IT behemoth Wipro to secure a coveted position in the 30 stock index.

What Happened: S&P Dow Jones Indices announced on Friday that Wipro will be removed from the Sensex index effective June 24, with Adani Ports taking its place. Over the past year, Adani Ports’ shares have shown a 97% return, while IT major Wipro has underperformed with a 16% return during the same period.

Adani Ports is the first stock from the Adani Group to be included in the Sensex. The port’s major already has a place in Nifty 50 along with Adani Group’s flagship company Adani Enterprises are already listed. Inclusion in major indices often leads to inflows from passive funds that track these indices.

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In addition to this change, the Bombay Stock Exchange (BSE) has made adjustments to several indices as part of its semi-annual review:

• BSE 100: REC, HDFC AMC, Canara Bank, Cummins India, and PNB will be included, replacing Page Industries, SBI Cards, ICICI Prudential Life Insurance, Jubilant FoodWorks, and Zee Entertainment Enterprises.
• Sensex 50: Tata Group‘s Trent will replace Divi’s Laboratories.
• BSE Bankex: Yes Bank and Canara Bank will be included, replacing AU Small Finance Bank and IDFC First Bank.

These changes reflect the ongoing adjustments to maintain the relevance and performance of the indices in representing the market.

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