Nifty Index to Undergo Rebalancing on March 27: Bharti Airtel, Tata Motors to Experience Net Inflows
NSE Indices Semi-Annual Rejig: Key Changes and Implications
Date: March 27, 2026
Summary:
The National Stock Exchange of India (NSE) is set to implement semi-annual rebalancing of its indices on March 27, 2026. The adjustments will take place on March 27 and will be effective from March 30, the last working day of the month. This report highlights the key changes in the NSE Indices semi-annual review for March 2026.
Nifty 50
The Nifty 50 index will see weight adjustments, with no inclusions or exclusions. The following stocks will experience an increase in weightage: Bharti Airtel, Bajaj Finance, and Bajaj Finserv. Conversely, HDFC Bank, Reliance Industries, ICICI Bank, Larsen & Toubro (L&T), State Bank of India (SBI), and Infosys will see a reduction in their respective weights.
Estimated Passive Flows:
- Bharti Airtel: $246 million
- Bajaj Finance: $2 million
- Bajaj Finserv: $2 million
- HDFC Bank: -$29 million
- Reliance Industries: -$25 million
- ICICI Bank: -$21 million
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Bank Nifty
The Bank Nifty index will see an increase in weightage for Yes Bank, Union Bank of India, Federal Bank, Canara Bank, Kotak Mahindra Bank, Bank of Baroda, IndusInd Bank, IDFC First Bank, AU Small Finance Bank, and Punjab National Bank (PNB). Conversely, the weights of ICICI Bank, SBI, HDFC Bank, and Axis Bank will decline.
Estimated Passive Flows:
- ICICI Bank: -$111 million
- SBI: -$21 million
- HDFC Bank: -$21 million
- Axis Bank: -$1 million
Nifty Next 50
The Nifty Next 50 index will see inclusions of Tata Motors, Cummins India, HDFC Asset Management Company, Muthoot Finance, Union Bank of India, and Tata Capital. Conversely, ICICI Lombard General Insurance, Info Edge (India), Havells India, JSW Energy, Life Insurance Corporation of India (LIC), and Bajaj Housing Finance will be excluded.
Estimated Passive Flows:
- Tata Motors: $171 million
- Cummins India: $123 million
- HDFC AMC: $94 million
- Muthoot Finance: $67 million
- Union Bank of India: $66 million
- Tata Capital: $28 million
- ICICI Lombard General Insurance: -$88 million
- Info Edge (India): -$80 million
- Havells India: -$65 million
- JSW Energy: -$54 million
- LIC: -$35 million
- Bajaj Housing Finance: -$15 million
Nifty Midcap 150
The Nifty Midcap 150 index will see inclusions of Multi Commodity Exchange of India (MCX), ICICI Lombard General Insurance, Laurus Lab, Info Edge (India), and Havells India. Conversely, Cummins India, HDFC AMC, Muthoot Finance, Union Bank, and Sona BLW Precision Forgings will be excluded.
Nifty India Defence
The Nifty India Defence index will see inclusions of Axiscades Technologies, Apollo Micro Systems, and Aequs. Conversely, Cyient DLM and Unimech Aerospace and Manufacturing will be excluded.
Nifty Capital Markets
The Nifty Capital Markets index will see inclusions of ICICI Prudential Asset Management Company and GROWW.
Estimated Passive Flows:
- ICICI AMC: $3 million
- GROWW: $1 million
Investor Takeaway
No significant changes are expected in the Nifty 50 index, but investors should be aware of the rebalancing and potential weight adjustments in other indices.
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