The changes will improve Nifty's return on equity by 80-90 basis points and reduce its leverage.
Financials were among the top losers along with Sun Pharma and index heavyweight Reliance Industries
At 2:30pm, the S&P BSE Sensex was up 32points at 24,695 and the Nifty50 was up 16 points at 7,500
Losses in IT majors contributed the most to the decline in the benchmark indices along with ONGC which slumped 10%
Particpants are keeping a watch on the Economic Survey 2016 due to be tabled at 12 noon today
Indian stocks fall for third straight day ahead of the budget
The S&P BSE Sensex ended down 321 points at 23,089 and the Nifty50 ended down 91 points at 7,019
These stocks will be dropped from the NSE's Nifty 50 index with effect from April 1
Pharma shares were the top gainers while Maruti Suzuki lost ground on suspension of production because of the ongoing agitation