Shares of Indian Oil Corp Ltd (IOC) plunged over 4 percent today after the Index Maintenance Sub Committee (IMSC) of the National Stock Exchange Indices decided to remove IOC from the Nifty CPSE Index.
On closing, the share price of IOC ended 4.08 percent lower at Rs 117.65-per share on the NSE, while on an intraday basis, the stock price slipped 7 percent to Rs 113.70.
On the BSE, the share price closed 4.20percnet lower at Rs.117.50 after slipping as much as 7-pc to an intraday low of Rs113.75-per share.
Apart from Indian Oil Corp, Power Finance Corp (PFC) will also be exempted from the index, while, NMDC, NHPC, Cochin Ship and PowerGridCorp will be exempted from the index. The changes will come to force from 24- January 2020, as released by the IMSC of NSE Indices on Friday. Get the top Stock trading tips and the latest stock future updates from the experts.
In today’s closing session Power finance slipped 7.91%, whereas NMDC rose 6.86%, NHPC advanced 11.13%, Cochin Shipyard added 3.23% and Power Grid Corporation rose 2.96%
Profit booking in key stocks such as Reliance Industries and HDFC Bank pulled the benchmark indices lower today, with the BSE Sensex closing lower by 416-pts while the Nifty dropped 127 points to close at 12,224.55