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Shares of steel major SAIL and Vedanta group firm Sterlite Industries today fell by as much as 2 per cent ahead of moving out of the NSE’s benchmark index Nifty from tomorrow, and will be replaced by Birla Group firm UltraTech Cement and drugmaker Lupin.
After making a weak opening, shares of SAIL slipped 1.96 per cent to Rs 87.35, while shares of Sterlite Industries declined by 1 per cent to Rs 99.65 on the BSE.
On the other hand, UltraTech Cement scrip rose by 2.38 per cent to a record high of Rs 1,927.80.
Similarly, Lupin gained 1.67 per cent to Rs 595.
As per the changes announced last month by India Index Services & Products Ltd (IISL), an NSE-Crisil joint venture that maintains Nifty index, SAIL and Sterlite Industries (India) would be excluded from the 50-share benchmark index with effect from September 28, 2012.
In their place, Lupin and UltraTech Cement would be included in the Nifty index.
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