- BSE shares fell nearly 4% after profit booking post Nifty 50 inclusion
- BSE replaced Wipro in Nifty 50 during the semi-annual index reshuffle
- BNP Paribas and Goldman Sachs sold a combined 1.67% stake in BSE shares
BSE share price declined nearly 4% on Wednesday amid profit booking after inclusion in the Nifty 50 index. The stock fell as much as 3.90% to Rs 3,075.00 apiece on the NSE.
The semi-annual rejig of the Nifty 50 constituents took effect on September 30, with BSE shares replacing Wipro in the flagship index.
In the previous session, BSE shares rallied 3% ahead of the index adjustments.
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BSE shares also witnessed a number of bulk deals on Tuesday. BNP Paribas Financial Markets sold a total of 44,51,693 BSE shares on September 29 at Rs 3,199.54 apiece. Goldman Sachs Investments Mauritius offloaded 23,81,571 shares of BSE at Rs 3,200 apiece, NSE bulk deal data showed.
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Together, the two entities sold around 1.67% equity stake in BSE, taking the combined sale value through bulk deals to Rs 2,186.44 crore on the NSE, ahead of the inclusion in the benchmark Nifty 50 index.
On the other hand, UTI Mutual Fund and Nippon India Mutual Fund purchased a total of 52.43 lakh BSE shares in separate bulk deals.
Technical Outlook
BSE share price has been consolidating within the Rs 3,075–3,308 range since mid-September.
“Despite this range-bound movement, BSE stock price continues to trade below its key short- and long-term moving averages, indicating that the broader trend remains weak. The RSI has remained largely flat, suggesting a sideways bias, while the MACD line has also flattened and continues to remain below the zero line, reinforcing the prevailing lack of momentum,” said Sudeep Shah, Head - Technical and Derivatives Research at SBI Securities.
According to him, on the downside, the Rs 3,050–3,060 zone is likely to act as an immediate support, and a decisive break below this level could trigger fresh selling pressure.
“On the upside, the Rs 3,300–3,320 zone is expected to act as a key resistance area,” Shah added.
At 2:30 PM, BSE share price was trading 3.03% lower at Rs 3,103.10 apiece on the NSE.
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