Goldman Sachs, BNP Paribas divest over 68 lakh BSE shares worth Rs 2,186 crore ahead of Nifty 50 inclusion

Goldman Sachs and BNP Paribas on Tuesday divested a combined 68.33 lakh shares of BSE worth Rs 2,186.44 crore through bulk deals on the NSE, ahead of the stock exchange operator's inclusion in the benchmark Nifty 50 index.

According to the NSE bulk-deal data, Goldman Sachs Investments Mauritius I Limited sold 23,81,571 BSE shares at Rs 3,200 apiece, while BNP Paribas Financial Markets sold 44,51,693 shares at a weighted average price of Rs 3,199.54 per share. Together, the two entities sold 68,33,264 shares, equivalent to around 1.67% of BSE's equity, for a total value of approximately Rs 2,186.44 crore.

On the buying side, UTI Mutual Fund bought 27,12,950 BSE shares at Rs 3,200 apiece, while Nippon India Mutual Fund purchased 25,29,550 shares at Rs 3,200 per share. Together, the two mutual funds bought 52.43 lakh shares worth around Rs 1,677.60 crore.

BSE shares gain

BSE shares ended Tuesday's trading session 3.31% higher at Rs 3,200 apiece on the NSE, against the previous close of Rs 3,097.50 per share.

The counter traded in the range of Rs 3,100-Rs 3,200 on the NSE during Tuesday's session. For the year till date, BSE shares have posted a 21.77% gain, as per NSE data.

The stock had hit its 52-week high of Rs 4,446.80 apiece on the NSE on May 27, 2026. At Tuesday's closing price of Rs 3,200, BSE shares were around 28% below their 52-week high.

BSE shares set to enter Nifty 50

BSE shares are slated to enter the benchmark Nifty 50 index from Wednesday, September 30, replacing Wipro as part of the NSE's semi-annual index rebalancing.

The inclusion is expected to bring significant passive buying interest in BSE. Axis Capital estimates that index funds could buy around 15.7 million BSE shares, translating into potential inflows of $657 million.

BSE's entry into the Nifty 50 follows a six-month average free-float market capitalisation of Rs 1,40,879 crore, which was at least 1.5 times that of Wipro, the smallest constituent in the eligible universe.

ALSO READ: BSE shares: Ahead of Nifty 50 entry, top brokerages share mixed outlook

Brokerages divided on BSE outlook

The index inclusion comes as brokerages remain divided on the stock's outlook, with BSE's growth opportunity weighed against regulatory changes and recent developments affecting trading activity.

Macquarie initiated coverage on BSE last week with an Outperform rating and a target price of Rs 4,000. The brokerage tagged BSE as a 'Challenger', noting that the stock exchange is a share gainer in a market with a 12% total addressable market CAGR.

Jefferies has a more cautious view on BSE, with an Underperform rating and a Rs 2,940 target price. The brokerage has flagged BSE's exposure to domestic proprietary traders, who account for around 50% of notional turnover. It also sees headwinds from the STT hike, RBI's bank guarantee norms and CAS.

Nuvama downgraded BSE to Hold from Buy last month and cut its target price to Rs 3,240 from Rs 4,090, identifying three key headwinds converging in FY27.

Disclosure: This article has been written by Kumar Gaurav, who is not a SEBI-registered Research Analyst or an Investment Adviser. Gaurav and their ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimers here