Gail to replace JP Associates in Sensex

Country's leading bourse BSE on Friday said that Gail India would replace Jaiprakash Associates in the benchmark 30-share Sensex index effective from January 2012.

Besides Sensex, there would also be revisions in sectoral as well as BSE-100, BSE-200 and BSE-500 indices, the stock exchange said in a statement.

The changes in various indices would come into effect from January 9, 2012.

According to the statement, the average free-float market capitalisation of Gail India stood at Rs 21,583 crore in the three months ended October. During the same period, the figure for Jaiprakash Associates was Rs 7,893 crore.

In the BSE-100 index, Colgate-Palmolive (India) and Hindustan Zinc would replace National Aluminium and Tata Communications, respectively.

Meanwhile, in the BSE-200 index, India Securities would replace Aban Offshore whereas Crisil would be included in place of Hindustan Construction, among other changes.