neutral
Recently
Finnifty Rebalancing: HDFC Bank, ICICI Bank See Weight Reduction as Index Becomes More Diverse
Finnifty’s rebalancing reduces the weight of HDFC Bank and ICICI Bank while increasing representation for PSU banks, NBFCs, and insurers, creating a more diversified index.
The Finnifty index, which tracks India’s top financial services companies, is undergoing a significant rebalancing. The upcoming changes aim to reduce the dominance of large banks like HDFC Bank and ICICI Bank, making the index more diversified. HDFC Bank's weight will decrease from 31.7% to 19%, while ICICI Bank’s share will fall from 20.5% to 14%. This shift increases the weight of other financial entities, with public sector banks like SBI gaining more representation.