The National Stock Exchange of India (NSE) is expected to announce the rebalancing of its indices in the second half of February. While the cutoff period is now complete, the final adjustments will take place on March 30, 2026. With a slew of new listings over the past six months, market participants would be watchful of which index the recent debutant stocks will enter.

For the upcoming Nifty 50 index rebalancing, Nuvama Alternative & Quantitative Research expects a status quo outcome, with no changes expected to the index constituents as none of the eligible stocks met the criteria to displace existing index constituents.

However, a slew of changes are expected to take place in other indices, such as Nifty Next 50, Nifty 100, Nifty Midcap 150 and Nifty Smallcap 250, in the upcoming Nifty indices rebalancing.

Nifty Next 50

Tata Motors, Tata Capital, ICICI Prudential Asset Management Company, Muthoot Finance, and HDFC Asset Management Company or Cummins India shares are likely to be the top inclusions in the Nifty 50 index, according to a note by Abhilash Pagaria, Head – Nuvama Alternative & Quantitative.

Meanwhile, Nuvama anticipates Info Edge (India), Bajaj Housing Finance, JSW Energy, Havells India, and ICICI Lombard General Insurance Company or Zydus Lifesciences may exit the Nifty Next 50 in the upcoming rebalancing.

Following their inclusion in the Nifty Next 50, Tata Motors is estimated to attract passive inflows of around $143 million, the highest among the potential entrants. This is followed by HDFC Asset Management Company with inflows of approximately $81 million, Muthoot Finance at $69 million, Tata Capital at $19 million, and ICICI Prudential Asset Management Company at $16 million, as per Nuvama estimates.

Conversely, potential exclusions are expected to witness outflows, with Info Edge (India) likely to see the largest outflow of about $79 million. ICICI Lombard General Insurance Company may face outflows of $71 million, followed by Havells India at $52 million, JSW Energy at $38 million, and Bajaj Housing Finance at $14 million.

Nifty Midcap 150

The newly listed stocks, LG Electronics India, Lenskart Solutions, HDB Financial Services, Anthem Biosciences and Billionbrains Garage Ventures (Groww) shares are expected to enter the Nifty Midcap 150 index, while HDFC Asset Management Company, Muthoot Finance, Exide Industries, Sona BLW Precision Forgings and LIC Housing Finance shares may be excluded.

Nifty Smallcap 250

The top expected inclusions in the Nifty Smallcap 250 are Physicswallah, Piramal Finance, Ajanta Pharma, Exide Industries and Honeywell Automation India. Meanwhile, top exclusions are likely to be Laurus Labs, Authum Investment & Infrastructure, Multi Commodity Exchange of India, Radico Khaitan and Akums Drugs and Pharmaceuticals, according to Nuvama.

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