IT major Wipro to replace Bajaj Auto in Sensex, effective December 20

IT major Wipro will replace two-wheeler major Bajaj Auto in the 30-share Sensex. BSE’s index construction arm Asia Index announced on Thursday. The change will become effective from December 20. IIFL Alternative Research estimates Wipro to see passive inflows of $166 million and Bajaj Auto to see outflows of $80 million on account of the rebalancing. Wipro will join IT peers TCS, Infosys, HCL Tech and Tech Mahindra in the benchmark index. After Bajaj Auto’s exit, Maruti Suzuki will be the only automobile stock in the index.