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SBI Life Insurance, Divi's Labs shares gain up to 4.5% on inclusion in Nifty

Following the news, shares of SBI Life Insurance touched an intraday high of Rs 889, rising 4.26% on BSE.  On a similar note, the latest entrant in Nifty50-Divi's Labs share price gained 4.54% to hit a new 52 week and an all-time high of Rs 3,333.6 today.

twitter-logoBusinessToday.In | August 21, 2020 | Updated 17:18 IST
SBI Life Insurance, Divi's Labs shares gain up to 4.5% on inclusion in Nifty
As part of its semi-annual index review, NSE on Thursday announced these changes, which will be effective September 25 or at the close of trade on September 24

Shares of Divi's Laboratories and SBI Life Insurance were trading majorly bullish in Friday's session after exchange bourse National Stock Exchange (NSE) decided to include them in its index Nifty 50, replacing Bharti Infratel and Zee Entertainment (ZEEL).

Following the news, shares of SBI Life Insurance opened with a gain of 2.68% today and later touched an intraday high of Rs 889, rising 4.26% on BSE against the earlier close of Rs 852.65.

The stock price of SBI Life Insurance has jumped 2.56% in the last one week. SBI Life Insurance shares trade higher than 5, 50, 100 and 200 day moving averages but lower than 20 day moving averages. The market capitalisation of the firm stood at Rs 88,399 crore as of today's session.

On a similar note, the latest entrant in Nifty50-Divi's Labs share price gained 4.54% to hit a new 52 week and an all-time high of Rs 3,333.6 today. The stock has risen 5.34% in the last 5 days. The stock has gained 42% over the period of one month and 76% year-to-date. Divi's Lab stock price is trading higher than 5, 20, 50, 100 and 200-day moving averages.

As part of its semi-annual index review, NSE on Thursday announced these changes, which will be effective September 25 or at the close of trade on September 24.

The bourse has decided to exclude Bharti Infratel and Zee Entertainment Enterprises. "The above replacements will also be applicable to NIFTY50 Equal Weight Index," said the Index Maintenance Sub-Committee (IMSC) of NSE Indices on Thursday.

SBI Life would be the second insurance company after HDFC Life Insurance Company to get added to Nifty50 index. HDFC Life replaced Vedanta in the Nifty 50 index last month.

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