BSE Ltd will replace Wipro Ltd in the benchmark Nifty 50 index as part of the semi-annual index review by NSE Indices, according to a Business-Today report. The change takes effect from September 30, 2026, after the close of trading on September 29, following a decision by the Index Maintenance Sub-Committee (Equity) of NSE Indices Ltd.
Index replacement and market-capitalisation data
In its review, NSE Indices said BSE has an average free-float market capitalisation of Rs 1,40,879 crore, while Wipro has an average free-float market capitalisation of Rs 55,930 crore. The review stated:
BSE Ltd. (average free-float market capitalization Rs. 1,40,879 crores) has been included in Nifty 50 index as the 6-month average free-float market capitalization of the company within eligible universe is at least 1.5 times the 6-month average free-float market capitalization of the smallest constituents i.e. Wipro Ltd. (average free-float market capitalization Rs. 55,930 crores).
The review added that TVS Motor Company Ltd and Divi's Laboratories Ltd, the next two eligible companies, were not considered for inclusion in the Nifty 50. Their average free-float market capitalisations stood at Rs 84,566 crore and Rs 82,930 crore, respectively, according to the report.
The decision was based on the average free-float market capitalisation of the two Nifty 50 constituents with the lowest average free-float market capitalisation after Wipro's exclusion. HDFC Life Insurance Company Ltd had an average free-float market capitalisation of Rs 65,666 crore, while Tata Consumer Products Ltd stood at Rs 73,054 crore. NSE said the figure for these two companies was less than 1.5 times the six-month average free-float market capitalisation required for inclusion.
| Company | Average Free-Float Market Capitalisation (Rs crore) | Status |
|---|---|---|
| BSE Ltd | 1,40,879 | Included in Nifty 50 |
| Wipro Ltd | 55,930 | Excluded from Nifty 50 |
| TVS Motor Company Ltd | 84,566 | Not considered for Nifty 50 |
| Divi's Laboratories Ltd | 82,930 | Not considered for Nifty 50 |
| HDFC Life Insurance Company Ltd | 65,666 | Below 1.5x threshold |
| Tata Consumer Products Ltd | 73,054 | Below 1.5x threshold |
Eligibility and threshold rules
Only stocks available for trading in NSE's Futures & Options segment are eligible for inclusion in the index, according to the review. The replacement of Wipro with BSE will also apply to the Nifty50 Equal Weight index, NSE confirmed.
Under the eligibility rule, a company's six-month average free-float market capitalisation within the eligible universe must be at least 1.5 times that of the smallest index constituent.
Nifty Next 50 and Nifty 100 changes
Following its exclusion from the Nifty 50, Wipro will be included in the Nifty Next 50 index. The other companies being included in the Nifty Next 50 are Hitachi Energy India Ltd, Polycab India Ltd, Vedanta Aluminium Metal Ltd and Vodafone Idea Ltd, according to the Business-Today report.
NSE said constituents of the Nifty 50 and Nifty Next 50 indices are derived from the Nifty 100 index, which is their parent index. Companies in the reconstituted Nifty 100 that are not part of the Nifty 50 are included in the Nifty Next 50.
BSE will also be included in the Nifty 100 index, replacing Indian Hotels Co Ltd, Lodha Developers Ltd, REC Ltd, Shree Cement Ltd and United Spirits Ltd, along with Hitachi Energy India, Polycab India, Vedanta Aluminium Metal and Vodafone Idea.
Implementation timeline
The changes across the indices will take effect from September 30, 2026. Trading on September 29 will be the last session before the reconstitution, the report said. The NSE's periodic review covers replacements across various broad-market and sectoral indices, with the changes scheduled to become effective from September 30.
Investors, equity analysts and fund managers tracking passive index portfolios will need to adjust their positions ahead of the September 29 close. The inclusion of BSE — the exchange operator with an average free-float market capitalisation of Rs 1,40,879 crore — and the exit of Wipro represent the key structural shifts from the semi-annual review.
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