Wipro’s Nifty exit reflects waning clout of IT giants

•Wipro will exit the Nifty 50 index from September 30, replaced by BSE Ltd. as part of a semi-annual review.

•Wipro's departure reflects a decline in its free-float market value, with shares falling 30% this year compared to a 16% decline in the IT index.

•The combined weight of India's top five IT companies in the Nifty 50 has fallen below 9% this year, the lowest since 2002.