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With drug makers Lupin and Cipla set to be replaced in the S&P BSE Sensex by IndusInd Bank and YES Bank, the weight of the pharmaceutical industry in the index would decline to a five-year low.
The index, jointly owned by the BSE and the US-based S&P, is a free float, market-weighted stock index of 30 companies.
“All over the world indices ride on successful stocks as these are made of weights by market capitalisation,” said G Chokkalingam, founder and managing director, Equinomics Research & Advisory.
On Friday, four drug makers together had a 4 per cent weight in the
