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In a significant development for the Indian stock market, online food delivery giant Zomato will be included in the prestigious BSE Sensex, replacing JSW Steel from December 23, 2024. This reconstitution of the Sensex, which is announced by Asia Index Private Ltd, a subsidiary of the Bombay Stock Exchange (BSE), will take effect on the specified date.
Zomato’s inclusion in the benchmark 30-stock index marks a noteworthy milestone for the company, which has witnessed a remarkable rally over the past year. The company, known for its online food ordering and restaurant discovery platform, has seen its stock value soar, bolstering its position in India’s financial landscape.
This reshuffle goes beyond the Sensex, impacting other key BSE indices, including the BSE 100, BSE Sensex 50, and BSE Sensex Next 50. In addition to Zomato, Jio Financial Services and Hindustan Aeronautics Ltd will also join the BSE Sensex 50, further reshaping the market’s key indicators.
However, the changes also involve exits from the Sensex. Notably, HDFC Life Insurance Company, Bharat Petroleum Corporation Ltd (BPCL), and LTI Mindtree will be leaving the index as part of the ongoing reconstitution.
The adjustments in the indices are expected to reflect broader shifts in the market, with Zomato’s entry into the Sensex seen as a reflection of its growing influence in India’s rapidly expanding digital economy. With this change, the index will now better represent the evolving sectors within India’s financial and technological landscape.
Sources By Agencies
