Description

BSE announces changes to SENSEX, BSE 100, SENSEX 50, SENSEX Next 50, and BANKEX indices effective December 22 and 26, 2025, with multiple stock additions and deletions.

Summary

BSE Index Services Private Ltd announces reconstitution of five major indices effective December 22 and 26, 2025. The changes include additions and deletions across BSE SENSEX, BSE 100, BSE SENSEX 50, BSE SENSEX Next 50, and BSE BANKEX indices. Most notably, Interglobe Aviation will be added to the flagship SENSEX index while Tata Motors Passenger Vehicles will be removed.

Key Points

  • BSE SENSEX: Interglobe Aviation Ltd (539448) to be added, Tata Motors Passenger Vehicles Ltd (500570) to be removed
  • BSE 100: IDFC First Bank Ltd (539437) to be added, Adani Green Energy Ltd (541450) to be removed
  • BSE SENSEX 50: Max Healthcare Institute Ltd (543220) to be added, Indusind Bank Ltd (532187) to be removed
  • BSE SENSEX Next 50: Indusind Bank and IDFC First Bank to be added, Max Healthcare Institute and Adani Green Energy to be removed
  • BSE BANKEX: Four banks added (Canara Bank, AU Small Finance Bank, Punjab National Bank, Union Bank of India) with no deletions specified
  • Changes will be implemented at market open on December 22, 2025 (for SENSEX, BSE 100, SENSEX 50, SENSEX Next 50) and December 26, 2025 (for BANKEX)

Regulatory Changes

No regulatory changes announced. This is a periodic index reconstitution based on BSE’s standard review process for maintaining index composition aligned with market capitalization, liquidity, and other eligibility criteria.

Compliance Requirements

  • Index fund managers and ETF providers tracking these indices must rebalance their portfolios to reflect the new composition
  • Portfolio rebalancing should be completed by the effective dates to maintain index tracking accuracy
  • Market participants are advised to contact bseindex@bseindia.com for additional queries regarding the reconstitution

Important Dates

  • November 21, 2025: Announcement date
  • December 22, 2025: Effective date for changes to BSE SENSEX, BSE 100, BSE SENSEX 50, and BSE SENSEX Next 50
  • December 26, 2025: Effective date for changes to BSE BANKEX
  • Changes will be implemented at market open on respective dates

Impact Assessment

Market Impact: High impact expected due to inclusion of Interglobe Aviation in the benchmark SENSEX index and multiple changes across other indices. Passive funds tracking these indices will need to buy newly added stocks and sell deleted ones, potentially creating significant trading volumes in affected securities around the effective dates.

Sectoral Impact: Aviation sector gains representation in SENSEX through Interglobe Aviation. Banking sector sees enhanced representation in BANKEX with four additions. The removal of Tata Motors Passenger Vehicles from SENSEX reduces auto sector weightage.

Investor Impact: Index fund investors will see automatic portfolio adjustments. Active investors may anticipate price movements in affected stocks due to forced buying/selling by index funds. Historical patterns show stocks being added to indices typically experience price increases leading up to the effective date.

Impact Justification

Major index reconstitution affecting benchmark SENSEX and other key indices will drive significant portfolio rebalancing and trading volumes from index funds and institutional investors