Zomato, Jio Financial Services shares gain ahead of Nifty 50 entry; likely to attract over $900 million inflows | Stock Market News
Zomato share price rallied over 2%, while Jio Financial Services share price also gained nearly 2% in early trade on Thursday ahead of their inclusion in the benchmark Nifty 50 index, which is expected to lead to significant inflow of funds into the stocks. Zomato shares surged as much as 2.68% to ₹208.75 apiece, while Jio Financial Services shares rose as much as 1.95% to ₹226.75 apiece on the BSE.
Food delivery giant Zomato and Reliance Industries’ arm Jio Financial Services will enter the benchmark Nifty 50 index in the March rebalancing of Nifty Indices. The adjustment is set to take place on March 27, and the stocks will be included in the Nifty indices from March 28.
Zomato will replace state-run Bharat Petroleum Corporation (BPCL), while Jio Financial Services will be replacing FMCG major Britannia Industries in the Nifty 50 index.
