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Supporters holding flags of ruling Congress party leave after attending an election campaign rally by Rahul Gandhi at Hardoi district in Uttar Pradesh January 28, 2012. REUTERS/Adnan Abidi/Files

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Lupin, UltraTech to replace SAIL, Sterlite in Nifty

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Stock brokers are seen at a brokerage firm in Mumbai May 13, 2004. REUTERS/Punit Paranjpe/Files

Stock brokers are seen at a brokerage firm in Mumbai May 13, 2004.

Credit: Reuters/Punit Paranjpe/Files

Fri Aug 17, 2012 9:54am IST

Reuters Market Eye - Lupin (LUPN.NS) and UltraTech Cement (ULTC.NS) will be the new additions to the Nifty, the exchange said on its web site on Thursday.

The two stocks will replace Steel Authority of India (SAIL.NS) and Sterlite Industries (STRL.NS) as per the statement.

The changes will be effective from September 28.

Analysts say the removal of SAIL and Sterlite from the Nifty underlines the negative sentiment prevailing on the materials sector even as valuations are at multi-year lows.
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