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BHEL will be out of BSE’s benchmark index Sensex from June 20. Power Grid Corp of India will replace BHEL in the widely-watched index. Currently, over a dozen schemes from fund houses, including HDFC, LIC, Reliance, Tata and UTI, have Sensex funds. Seven ETFs, including SBI-ETF that invests part of pensioners’ money, are based on the S&P BSE Sensex. So, BHEL may see some selling pressure while Power Grid could see buying interest.
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