A significant realignment of passive institutional capital swept across Dalal Street on Tuesday, September 29, 2026, as the National Stock Exchange (NSE) formally implemented its scheduled semi-annual index rebalancing. Global exchange-traded funds (ETFs) and domestic mutual fund schemes tracking benchmark gauges are recalibrating their underlying portfolios to align with new index compositions and modified stock weightings. According to calculations by NSE and IIFL Alternative Research, these technical adjustments are set to generate substantial capital churn, funneling hundreds of millions of dollars into newly added counters while forcing structured institutional exits from downgraded or excluded equities.

Major Inflow Winners: BSE Ltd Leads With $595 Million Influx Alongside Adani and Vi

Leading the pack of top capital recipients is BSE Ltd, which is poised to attract an estimated passive inflow of approximately $595 million (around 16.75 million shares) following its inclusion in the benchmark Nifty 50 basket. Despite closing 1.3% lower at ₹3,150.5 on Monday, the exchange operator has gained 19.9% in 2026. Simultaneously, Adani Enterprises is scheduled to receive around $69 million (2.14 million shares) due to an upward weighting revision in the benchmark, despite shedding 10.4% over the past month. Other key beneficiaries of positive passive churn include cabling giant Polycab India with projected inflows of $65 million (7 lakh shares), industrial equipment leader Hitachi Energy India with $57 million (1.7 lakh shares), telecom operator Vodafone Idea absorbing $57 million across a hefty 359.98 million shares, and Vedanta Aluminium securing roughly $14.6 million (30.74 million shares).

Heavy Exit Pressures: Wipro Ousted from Nifty 50 as Indian Hotels and Shree Cement See Outflows

Conversely, several frontline counters are confronting massive institutional selling pressure as passive mandates trim or eliminate their weightings. Information technology major Wipro marked a significant structural shift as it was dropped from the Nifty 50, triggering estimated passive outflows of $15.2 million across roughly 83.09 million shares; the stock closed Monday down 0.9% at a fresh 52-week low of ₹162.6, languishing under a 39.2% year-to-date slump. Tata Group’s hospitality flagship, Indian Hotels Company (IHCL), faces the steepest aggregate capital withdrawal, with projected outflows of $96 million affecting 11.82 million shares. Additional major selloffs driven by rebalancing include United Spirits with $63 million (3.98 million shares), Shree Cement with $62 million (2.5 million shares), state-run financier REC with $59 million (16.82 million shares), and real estate major Lodha Developers with an anticipated outflow of $47 million (3.6 million shares).