BSE Shares Experience 4% Surge, Extending Two-Day Rally to 8% Amid Speculation of Nifty 50 Inclusion

BSE Stock Sees Nearly 4% Surge as Report Suggests Potential Nifty 50 Index Inclusion

On May 19, shares of the Bombay Stock Exchange (BSE) rose nearly 4% after a report indicated that the stock exchange is set to join the benchmark Nifty 50 index in the September 2026 rebalancing, potentially displacing IT giant Wipro Ltd. This move could have significant implications for investors, with one-way flow estimated at $639 million.

The report noted that for an index change to be triggered, there must be at least one eligible stock whose Average Float Market Cap (AFMC) is greater than 1.5 times the AFMC of the smallest index member. Analyst Janaghan Jeyakumar of Quiddity Advisors pointed out that BSE currently clears this bar, with its AFMC exceeding 1.5 times that of Wipro, making Wipro the most vulnerable name in the index.

At 10:26 am on May 19, BSE shares were trading 3.6% higher at Rs 4,268 apiece, making it the second biggest gainer on the Nifty Capital Markets index, which was trading 1.8% higher. Angel One led the gains by climbing 5.5%.

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BSE's stock has been among India's top-performing financial counters over the past year, surging over 63%. A sharp jump in trading volumes, rising retail participation, and a resurgence in its derivatives business have driven record earnings and underpinned the rally. In contrast, Wipro has shed over 25% in the same period, weighed down by broad weakness in the technology sector and growing concerns over artificial intelligence disruption.

The broader Nifty 100 is set for more sweeping changes, with five additions and five deletions expected. The index uses full market cap rankings, and any stock ranked below 110 faces deletion while non-members ranked within the top 90 are in line for inclusion. Expected additions are BSE, Hitachi Energy India, Polycab India, Vodafone Idea, and Bharat Heavy Electricals. Set to exit are Macrotech Developers, Shree Cement, Indian Hotels, REC, and Zydus Lifesciences.

BSE reported a 61% jump in consolidated net profit to Rs 795.47 crore for the March quarter, on the back of higher income. For the entire 2025-26, the bourse's net profit jumped 88% to Rs 2,487 crore as against Rs 1,322 crore in FY25. BSE also recorded its highest-ever performance in its 150-year history in FY26, with revenue rising 59% year-on-year to Rs 5,148 crore from Rs 3,236 crore in the preceding fiscal year.

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The company's equity derivatives segment posted strong growth in FY26, with revenue more than doubling to Rs 3,134 crore, aided by a rise in average daily premium turnover to Rs 19,522 crore from Rs 8,977 crore in the previous financial year.