Friday 17 February 2017

Ways2Capital : IDFC Bank To Replace BOI In Bank Nifty From March 31

Posted by suhani varma on Friday, February 17, 2017 with No comments
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The Index Maintenance Sub-Committee (IMSC) has decided that Bank of India's stock is to be excluded and IDFC Bank Ltd., is to be included in the Nifty Bank index.The changes in the index shall become effective from March 31, 2017.

Bank Nifty index touched high of 21042.35 levels, up by 798.65 points or 3.94% in the morning hours on Friday. The index slipped by about 350 points from its day’s high, trading at 20689.25 levels, up by 445.55 points or 2.2%.Bank of India is trading at Rs 125.20 per share, down by Rs 0.25 per share or 0.2%. The stock witnessed addition in its open interest by 1.9%.

IDFC Bank Limited is trading at Rs 62.65 per share, up by Rs 0.80 per share or 1.29%. The stock witnessed addition in its open interest by 1.07%.There is short built up position in Bank of India's stock; whereas a long built up position in IDFC Bank Limited, on Friday.


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