BSE shares rose 1.6 per cent to ₹3,147.50 on the NSE on Tuesday as the stock prepares to replace Wipro in the Nifty 50 index. The change takes effect on September 30, after the close of trading on September 29.

Wipro shares fell nearly 2 per cent to ₹158.80 on the day, as the IT services major exits the benchmark after a long run.

BSE qualified for inclusion after its six-month average free-float market capitalisation reached ₹1,40,879 crore, comfortably above the required 1.5 times the ₹55,930 crore average of Wipro, the smallest constituent.

TVS Motor and Divi’s Laboratories, with ₹84,566 crore and ₹82,930 crore respectively, were next in line but did not meet the threshold.

The reshuffle is expected to bring estimated passive inflows of $630 million into BSE, while Wipro could see outflows of $152 million from funds that track the index.

Changes will also apply to the Nifty 100, with BSE, Hitachi Energy India, Polycab India, Vedanta Aluminium Metal and Vodafone Idea entering. Wipro moves to the Nifty Next 50.

Index rejigs matter because passive funds must buy new entrants and sell those leaving, moving large blocks of shares on the effective date.