An index is meant to be a mirror. It's supposed to reflect where investors have put their money, not decide where they should put it next. But events of this month around Nifty 50 are a reminder that the mirror has started to shape the room it reflects.
On August 10, NSE indices announced that BSE will replace Wipro in Nifty 50, effective from the close of trade on September 29, with the change taking effect on September 30. It's the first time an exchange operator has entered the benchmark index of the market it helps run.
