“If we assume Jio Financial and Zomato make it to the F&O segment before the third week of August, then there is a very high chance of them making it to the Nifty50 in the September review,” Nuvama analysts Abhilash Pagaria and Abhishek Shetye wrote in their latest note.
On Thursday, the Securities and Exchange Board of India said it would be revising the criteria for stocks entering or exiting the F&O segment.
Except for being in top 500 stock as per average daily market capitalisation and average daily traded value, Sebi said for entry into the F&O segment, the Median Quarter Sigma Order Size requirement over the last six months has been increased to ₹75 lakh on a rolling basis. Also, the market wide position limit has been raised three times to ₹1,500 crore and the average daily value over the last six months increased to ₹35 crore on a rolling basis.
The regulator said a Product Success Framework would be used to evaluate the exit of stocks.Nuvama said there is a high probability of Jio Financial and Zomato making it to the list, and expects that if both enter the F&O segment before the third week of August, they and Trent would most likely enter the Nifty50 in NSE benchmark index’s September rejig.These stocks would be replacing LTI Mindtree, Divi’s Labs and Eicher Motors, it said.Jio Financial and Zomato would see inflows of $466 million and $491 million, respectively, if they make it to the list, it said.
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