LTIMindtree replaced Housing Development Finance Corp (HDFC) in the benchmark Nifty50, while JSW Steel took its position in the 30-share Sensex on Thursday. Shares of LTIMindtree rose 1.2 per cent to close at Rs 4,876, while JSW slipped 0.3 per cent to close at Rs 802.
The adjustment date for exchange traded funds (ETFs) and index funds for aligning their portfolio was Wednesday, the last trading day for HDFC. Analysts said going ahead LTIMindtree and JSW might benefit as both the indices are popular benchmarks for ETFs.
“We are thrilled to celebrate our inclusion in the Nifty index. The merger of LTI and Mindtree was driven by our vision to create a large-scale player with a diversified portfolio,” said SN Subrahmanyan, Vice-chairman, LTIMindtree.