Nestle's inclusion in Nifty to raise FMCG weight; pvt banks to stay at top

Despite the churn, the private banks will still top the chart with a weightage of 26 per cent in the index, followed by the energy sector at 23 per cent.

Nestle (India), according to reports, is likely to replace media firm Zee Enterprises in the Nifty50 index from October futures & options (F&O) series. The likely inclusion is expected to increase the weight of fast moving consumer goods (FMCG) sector in the index by 94 basis points (bps) to 9.2 per cent. While the weightage of the FMCG sector will rise that of the media sector will be eliminated, according to a report by ICICI Securities dated August 27.

Reports say the churn is expected to be formally announced by August 30, while the changes are likely to be effective