Bank Nifty index likely to see a churn worth $186 million on Friday

This is on account of a change in weighting of its components

Topics
Bank Nifty | Banking stocks | stock market trading

Samie Modak  |  Mumbai 

The Bank Nifty index, a gauge for the performance of banking stocks, could see a churn worth $186 million (Rs 1,345 crore) on Friday. This is on account of a change in weighting of its components.

The Bank Nifty index follows a free-float market capitalisation methodology to determine weighting of underlying stocks. The index provider adjusts weight of stocks in case of any change in the equity base or float factors. For instance, Punjab National Bank will see its weighting increase by nearly 30 basis points (bps) as its free-float has gone up following a qualified institutional ...

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First Published: Fri, May 28 2021. 01:53 IST
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