Shares of Sterlite Industries and SAIL lost ground today, following the exclusion of the stocks from the S&P CNX Nifty.
Shares of Sterlite Industries was traded 0.68% lower, while SAIL was down by 0.47%.
The S&P CNX Nifty will undergo a change with effect from September 28, 2012 with Ultratech Cement and Lupin Laboratories, replacing Sterlite Industries and Steel Authority of India.
According to a release from the National Stock Exchange (NSE), the NSE Midcap 50 constituents will also undergo a change with the exclusion of Alstom India, Bajaj Holdings & Investment Ltd, BEML Ltd, Bharat Electronics Ltd, Cummins India Ltd, Educomp Solutions Ltd, Great Eastern Shipping Co. Ltd, Indian Bank, Lanco Infratech Ltd, Oil India Ltd
The above companies would be replaced by Bata India, Crompton Greaves, GMR Infrastructure, Hexaware, Hindustan Zinc, IFCI, Jubilant Foodworks, MRF, South Indian Bank and Sun TV Network.
The NIFTY or the S&P CNX Nifty is an Index computed from performance of top stocks from different sectors listed on NSE (National stock exchange). NIFTY consists of 50 companies from different sectors. NIFTY stands for National Stock Exchange's Fifty.