Mumbai:Equity benchmark BSE Sensex turned volatile on Monday, dropping over 20 points at 11:41 am amid stock-specific action after a rejig of its constituents.
Yes Bank, Vedanta, Tata Motors and Tata Motors DVR have exited the index to make way for Titan Company, UltraTech Cement and Nestle India.
The 30-share BSE index was trading 20.11 points or 0.048 per cent lower at 41,661.43 at 11:41 am. Similarly, the broader NSE Nifty gained 1.65 points or 0.013 per cent to 12,273.45.
Top gainers and losers
Titan was the top gainer in the Sensex pack, rising up to 2 per cent after its inclusion in the index. Kotak Bank, Tata Steel, UltraTech Cement, ONGC, HUL and TCS were also trading in the green.
On the other hand, RIL was the top loser, shedding up to 2.09 per cent, followed by Bharti Airtel, Nestle, Bajaj Auto, Techm, HDFC Bank and ICICI Bank.
In the previous session, the 30-share gauge closed 7.62 points, or 0.02 per cent, higher at 41,681.54. Similarly, the broader NSE Nifty rose 12.10 points, or 0.09 per cent, to its new record of 12,271.80.
Meanwhile, on a net basis, foreign institutional investors bought equities worth Rs 338.86 crore, while domestic institutional investors sold shares worth Rs 285.41 crore on Friday, data available with stock exchange showed.
According to experts, the Sensex reshuffle can lead to some price movements as fund managers adjust their portfolios.