Share Market Update: Jio Financial Services and Zomato Set to Join Nifty 50 Index; Eicher Motors and BPCL Likely to Exit

Shares of Zomato rose 3.62% to ₹267.76, and Jio Financial Services surged 6.11% to ₹317.70 on Thursday, amid chatter of the stock’s inclusion in the Nifty 50 index. The official announcement is expected in the second half of February 2025. Both stocks are projected to experience substantial gains until then, as highlighted by Abhilash Pagaria from Nuvama Alternative & Quantitative Research. While Jio Financial and Zomato appear poised for inclusion, Avenue Supermarts (D-Mart) is unlikely to secure a position in the Nifty 50 index due to insufficient free-float market capitalization.

In a boost for traders, the NSE announced the addition of 45 new stocks, including Jio Financial and Zomato, for derivatives trading beginning November 29, 2024, following SEBI’s approval. This inclusion increases both stocks' chances of being added to the Nifty 50 in the next rebalancing, according to analyses by Nuvama and JM Financial.

Expected passive inflows for Zomato are estimated at ₹54,863 crore while Jio Financial could see around ₹33,449 crore if they join the Nifty. Meanwhile, BPCL and Eicher Motors, expected to exit, could face outflows of approximately ₹21,829 crore and ₹20,418 crore, respectively.  Shares of Eicher Motors rose by 7 percent today after posting strong Q2 results, while BPCL shares slipped by 0.5 percent.