Yes Bank, IndusInd Bank shares gain up to 2% on Sensex inclusion news

Yes Bank and IndusInd Bank stocks opened higher on Monday and further extended the gains on news of inclusion in the 30-share benchmark index — Sensex. The private sector lenders Yes Bank and IndusInd Bank will enter in the BSE Sensex with effect from 18 December 2017. Following the inclusion of Yes Bank and IndusInd Bank, two pharma sector stocks, Cipla and Lupin, will be removed from the index.

The stock of Yes Bank gained jumped 2.58% to hit the day’s high of Rs 314 after opening up 1.09% at Rs 309.45 while shares of IndusInd Bank rose 1.13% to the day’s high of Rs 1,650.45 0.2% at Rs 1,635.25. The shuffling in the indices are announced by Asia Index, a joint venture between S&P Dow Jones Indices LLC and BSE. The move is a part of Asia Index’s semi-annual reconstitution results. “Effective at the open of Monday, December 18, 2017, following changes will be made to these indices,” Asia Index said.

Apart from the shuffling in Sensex, few changes are also made in other indices too. In the BSE 100, the index of top 100 listed companies, Federal Bank, Grasim Industries, Vakrangee and Bajaj Holdings & Investment will be added while United Breweries, Steel Authority of India, Canara Bank and Reliance Infrastructure will see an exit from the index. Besides these, changes have been announced in Sensex 50, Sensex Next 50, BSE 200 and BSE 500 indices respectively.

Sensex and Nifty opened little higher on Monday as most of the Asian markets fell in morning trade. BSE Sensex gained 23.04 points to open at 33,365.84 whereas NSE Nifty added 3.6 points to begin at 10,287.2. Meanwhile, the Indian bond yields fell heavily in the early session today after the Reserve Bank of India withdrawn the sale of worth Rs 10,000 crore worth of bonds via open market operations.

Yes Bank