Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Event-Driven

<ul>
<li>Following SEBI's review of eligibility criteria for entry/exit of stocks in the derivatives segment, there could be 18 deletions/79 inclusions in the F&amp;O segment over the next 6 months.  </li>
<li>The new framework could lead to mechanical entry and exit of stocks in the F&amp;O segment with minimal intervention from SEBI.</li>
<li>The introduction of some large cap stocks in the F&amp;O segment could lead to their inclusion in the <a href="https://www.smartkarma.com/entities/nifty-index" target="_blank" data-smartkarma-citation="entities:23617:1" rel="noopener">NIFTY Index</a>, <a href="https://www.smartkarma.com/entities/s-p-bse-sensex-index" target="_blank" data-smartkarma-citation="entities:31494:1" rel="noopener">SENSEX Index</a> and other local indices.</li>
</ul>


Following SEBI's review of eligibility criteria for entry/exit of stocks in the derivatives segment, there could be 18 deletions/79 inclusions in the F&amp;O segment over the next 6 months.  
The new framework could lead to mechanical entry and exit of stocks in the F&amp;O segment with minimal intervention from SEBI.
The introduction of some large cap stocks in the F&amp;O segment could lead to their inclusion in the NIFTY Index, SENSEX Index and other local indices.


India: Potential Adds/Deletes from F&O Segment

Index Rebal/Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal/Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Index Rebalance

<ul>
<li>In this insight, we take a look at the Potential ADDs/DELs for the BSE SENSEX, 100, and 200 indices in the December 2024 index rebal event.</li>
<li>We see four expected ADDs/DELs for BSE 100 and six expected ADDs/DELs for BSE 200.</li>
<li>The BSE 100 handling rules for names <em>without</em> futures and options (F&amp;O) sometimes punish companies that have enjoyed good share price rallies and Zomato could fall into such a trap.</li>
</ul>


In this insight, we take a look at the Potential ADDs/DELs for the BSE SENSEX, 100, and 200 indices in the December 2024 index rebal event.
We see four expected ADDs/DELs for BSE 100 and six expected ADDs/DELs for BSE 200.
The BSE 100 handling rules for names without futures and options (F&amp;O) sometimes punish companies that have enjoyed good share price rallies and Zomato could fall into such a trap.


Quiddity Leaderboard BSE/​​​​SENSEX Dec 24: Zomato Needs F&O Membership to Avoid BSE 100 Deletion

<ul>
<li>In this insight, we take a look at the Potential ADDs/DELs for the BSE SENSEX, 100, and 200 indices in the December 2024 index rebal event.</li>
<li>At present, 3 changes for the BSE 100 index and 7 changes for the BSE 200 index.</li>
<li>The BSE 100 handling rules for names without futures and options (F&amp;O) sometimes punish companies that have enjoyed good share price rallies and Zomato could get into such a trap.</li>
</ul>


In this insight, we take a look at the Potential ADDs/DELs for the BSE SENSEX, 100, and 200 indices in the December 2024 index rebal event.
At present, 3 changes for the BSE 100 index and 7 changes for the BSE 200 index.
The BSE 100 handling rules for names without futures and options (F&amp;O) sometimes punish companies that have enjoyed good share price rallies and Zomato could get into such a trap.


Quiddity Leaderboard BSE/​​​​SENSEX Dec 24: Could Zomato's Share Price Rally Become a Problem?

<ul>
<li>
<a href="https://www.smartkarma.com/entities/trent-ltd" target="_blank" data-smartkarma-citation="entities:8410:1" rel="noopener">Trent Ltd (TRENT IN)</a> and <a href="https://www.smartkarma.com/entities/bharat-electronics-ltd" target="_blank" data-smartkarma-citation="entities:6636:1" rel="noopener">Bharat Electronics (BHE IN)</a> are shoo-ins to replace <a href="https://www.smartkarma.com/entities/ltimindtree-ltd" target="_blank" data-smartkarma-citation="entities:22778:1" rel="noopener">LTIMindtree (LTIM IN)</a> and <a href="https://www.smartkarma.com/entities/divi-s-laboratories-ltd" target="_blank" data-smartkarma-citation="entities:4871:1" rel="noopener">Divi's Laboratories (DIVI IN)</a> in the <a href="https://www.smartkarma.com/entities/nifty-index" target="_blank" data-smartkarma-citation="entities:23617:1" rel="noopener">NIFTY Index (NIFTY INDEX)</a> in September.</li>
<li>Passive <a href="https://www.smartkarma.com/entities/nifty-index" target="_blank" data-smartkarma-citation="entities:23617:1" rel="noopener">NIFTY Index</a> trackers will need to trade at least 3.3x ADV and 7.7x delivery volume on the stocks. There is some opposite flow from <a href="https://www.smartkarma.com/entities/nse-nifty-next-50-index" target="_blank" data-smartkarma-citation="entities:36053:1" rel="noopener">Nifty Next 50 Index</a> trackers.</li>
<li>Cumulative excess volume has increased in all stocks but there are some stocks where there will still be more positioning over the next few weeks.</li>
</ul>



Trent Ltd (TRENT IN) and Bharat Electronics (BHE IN) are shoo-ins to replace LTIMindtree (LTIM IN) and Divi's Laboratories (DIVI IN) in the NIFTY Index (NIFTY INDEX) in September.
Passive NIFTY Index trackers will need to trade at least 3.3x ADV and 7.7x delivery volume on the stocks. There is some opposite flow from Nifty Next 50 Index trackers.
Cumulative excess volume has increased in all stocks but there are some stocks where there will still be more positioning over the next few weeks.


NIFTY50 Index Rebalance Preview: Big Flow, Big Impact, Big Positioning

<ul>
<li>NIFTY 50 represents the 50 largest stocks listed in the National Stock Exchange (NSE) of India and the NIFTY Next 50 index tracks the next 50 largest names.</li>
<li>In this insight, we take a look at the names leading the race to become ADDs/DELs during the September 2024 index rebal event.</li>
<li>Since my last insight, we have observed a couple of important changes to candidate rankings and that has resulted in some changes to our index change expectations.</li>
</ul>


NIFTY 50 represents the 50 largest stocks listed in the National Stock Exchange (NSE) of India and the NIFTY Next 50 index tracks the next 50 largest names.
In this insight, we take a look at the names leading the race to become ADDs/DELs during the September 2024 index rebal event.
Since my last insight, we have observed a couple of important changes to candidate rankings and that has resulted in some changes to our index change expectations.


Quiddity Leaderboard NIFTY Sep 24: Multiple Changes Possible for NIFTY 50; Some New Trade Ideas

India

Jio Financial Services Limited is an Indian financial services company that offers a broad range of financial products, including lending, insurance broking, payments, and asset management. The company operates as a digital-first platform, delivering integrated financial solutions to retail and corporate customers across India, primarily through its unified JioFinance app. Jio Financial Services is headquartered in Mumbai, India, and was founded on July 22, 1999.

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Jio Financial Services (JIOFIN IN)

India: Potential Adds/Deletes from F&O Segment

There could be 79 inclusions and 18 deletions for the FnO segment following the revised eligibility criteria. That will in turn result in some of...

Brian Freitas

Quiddity Leaderboard BSE/SENSEX Dec 24: Zomato Needs F&O Membership to Avoid BSE 100 Deletion

Zomato does not have F&O membership and it could violate a BSE Sensex Next 50 selection rule which would trigger a BSE 100 deletion. To escape...

Janaghan Jeyakumar, CFA

NIFTY50 Index Rebalance Preview: Big Flow, Big Impact, Big Positioning

There are 2 high probability changes for the NIFTY in Sep. New stocks added to the FnO list could increase the number of changes. There is big flow...

Brian Freitas

Quiddity Leaderboard NIFTY Sep 24: Multiple Changes Possible for NIFTY 50; Some New Trade Ideas

There are at least four names eligible for NIFTY 50 addition in September 2024. However, the final count ADDs and DELs will be a discretionary...

Janaghan Jeyakumar, CFA

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

India: Potential Adds/Deletes from F&O Segment

There could be 79 inclusions and 18 deletions for the FnO segment following the revised eligibility criteria. That will in turn result in some of...

Brian Freitas

Quiddity Leaderboard BSE/​​​​SENSEX Dec 24: Zomato Needs F&O Membership to Avoid BSE 100 Deletion

Zomato does not have F&O membership and it could violate a BSE Sensex Next 50 selection rule which would trigger a BSE 100 deletion. To escape...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard BSE/​​​​SENSEX Dec 24: Could Zomato's Share Price Rally Become a Problem?

We see Zomato as a BSE 100 DEL for December 2024 as it currently violates one of the derivative linkage requirements. Zomato's fate will depend on...

Janaghan Jeyakumar, CFA

NIFTY50 Index Rebalance Preview: Big Flow, Big Impact, Big Positioning

There are 2 high probability changes for the NIFTY in Sep. New stocks added to the FnO list could increase the number of changes. There is big flow...

Brian Freitas

Quiddity Leaderboard NIFTY Sep 24: Multiple Changes Possible for NIFTY 50; Some New Trade Ideas

There are at least four names eligible for NIFTY 50 addition in September 2024. However, the final count ADDs and DELs will be a discretionary...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard BSE/SENSEX Dec 24: Zomato Needs F&O Membership to Avoid BSE 100 Deletion

Quiddity Leaderboard BSE/SENSEX Dec 24: Could Zomato's Share Price Rally Become a Problem?