Mumbai: Jio Financial Services (JFS) will be excluded from the NSE Indices including the Nifty 50 from September 7, the National Stock Exchange said in a press release.

"In accordance with the index methodology, as JIOFIN has not hit the price band on two consecutive trading days on September 4, 2023, and September 5, 2023, at NSE, the Index Maintenance Sub-Committee (Equity) has decided to exclude JIOFIN from various indices effective from September 7, 2023 (close of September 6, 2023)," the press release stated on September 5.

If Jio Financial Services hits the price band on September 6, the exclusion shall not be delayed further, it added.

Apart from the Nifty 50, JFS it will be removed from the Nifty 100, Nifty 200, Nifty 500, Nifty Energy, Nifty India Manufacturing and 13 other indices.

Jio Financial Services has been removed from BSE indices, but MSCI and FTSE still include the stock in their indices.