Nifty recast comes close on heels of sensex recast
Mumbai: In an attempt to keep up with the times and reflect the true happenings on the stock exchange, the authorities at the National Stock Exchange (NSE) have recast its CNX Nifty index by including ZEE Telefilms Ltd. and HCL Infosystems which will replace IDBI and EIH Ltd. in the S&P CNX Nifty as on May 24.

With this change, the Nifty would represent about 44 per cent of total market cap on the NSE as compared to 40 per cent earlier. The total market cap of the S&P CNX Nifty would be Rs. 3,72,125 crore.

Simultaneously, these companies which were currently a part of the CNX Nifty Junior, will now be excluded from the indices and be replaced by HFCL and Rolta India Ltd.

Of the seven new inclusions in the S&P CNX 500, tech and communication companies have a heavier weightage. The companies being included are Hughes Software, Polaris Software Lab, VisualSoft Technologies, Sri Adhikari Brothers, Crest Communication, Wockhardt and Reliance Petroleum.
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Sensex continues in depressed mode
Mumbai: In what appears to be a temporary bear sentiment, unabated selling pressure pulled the 30-share Sensex down by 146.37 points to 4,511.05, despite operators going into buying mode in the early part of the session.

At the NSE, the CNX Nifty shed 27.65 points and closed at 1,388 after touching a high of 1,431.80 points.

According to a dealer at a foreign brokerage firm, purchases from foreign institutional investors were thin as some of the FIIs were on holiday. Tech stocks were the biggest losers on continued uncertainty in the US markets. On Monday, Nasdaq opened weak and lost 180 points in early trade.
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