Axis Bank replaces Jindal Steel in Sensex; stock up

Axis Bank is now a part of the Sensex from today, replacing Jindal Steel. The stock was up 1.12 per cent in trade following the move.

The Bombay Stock Exchange had last month announced the shifting of the two stocks.

Axis Bank and Jindal Steel are currently part of the Nifty. Axis Bank will now join the list of banking stocks that form the Sensex including HDFC Bank, ICICI Bank and State Bank of India.

The weightage of banking stocks in the Sensex is also likely to increase following today's move.

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