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.
Trending On Reuters
India's wheat planting has been delayed by at least a week due to high temperatures, threatening its output of the grain yet again after hailstorms during harvest earlier this year dragged down annual production levels for the first time since 2007. Full Article