New Delhi: Domestic brokerage Axis Capital has projected that India's oldest stock exchange, BSE, could replace IT major Wipro in the NSE's semi-annual index rebalancing, expected to be announced in the second half of August and implemented from September 30, 2026.

The Index Maintenance Sub-Committee considers six-month average data between February 1 and July 31 to decide inclusions and exclusions. Based on data available from February 1 to May 15, Axis Capital expects one change in the Nifty50, five changes in the Nifty Next 50 and no changes in the Bank Nifty.

If included in the Nifty50, BSE may attract inflows of $657 million, with index funds estimated to pur-chase 15.7 million shares. In contrast, Wipro could witness outflows of $225 million, resulting in index funds selling nearly 114.2 million shares.

Wipro shares have remained under pressure, falling 20 per cent over the past six months and 27 per cent since the start of the year.

Ahead of the reshuffle, Wipro, Polycab India, Hitachi Energy India, Indian Bank and ICICI Prudential As-set Management Company are seen as key contenders for inclusion in the Nifty Next 50 index.

Meanwhile, Indian Hotels Company, REC, Shree Cement, Zydus Lifesciences and Lodha Developers are considered the most likely candidates for exclusion.