Siemens, Wipro to be removed from Nifty; Shares fall

Shares in software service exporter Wipro fell as much as 2.2 percent while power equipment maker Siemens retreated on Thursday after India Index Services & Products Ltd said both companies would be removed from the Nifty on April 1.

[caption id="attachment_625000" align="alignleft" width="380"] Wipro shares were down 2.7 percent as of 9:37 am. Reuters[/caption]

India Index Services & Products announced the exclusion in a statement on Wednesday, adding private sector lender IndusInd Bank and iron ore producer NMDC would be included in the Nifty index in their place.

Wipro shares were down 2.7 percent as of 9:37 am Siemens, the Indian subsidiary of Siemens AG, was down 1.7 percent. However, NMDC shares rose 2.8 percent while IndusInd rose 0.5 percent.

Reuters