Explained on 26 October 2026. This is an educational answer drawn from the dated article below; examples are hypothetical unless a specific source observation is identified.
How it works
Retained securities can also have weight adjustments. Before interpreting a six-for-six review as either large or small, inspect the affected allocations. Formal turnover-ratio conventions can differ from a simple purchases-plus-sales illustration, so the chosen measure must be labelled rather than silently substituted for an official ratio.
A simple example
If hypothetical removed positions total 4% of assets and replacement purchases also total 4%, the simple gross two-way traded value is 8%, before other changes. If both sides are 1%, it is 2%, despite the same number of companies changing.
What to check
- Use weights and assets, not only company counts.
- State the turnover convention being used.
- Include adjustments to retained positions where relevant.
Read the full event and evidence
October’s Nifty Shariah Review: An Eligibility Change Is Not a Sell Rating explains the original event, its dates and the supporting documents. Event context: 23 October notice; effective 30 October 2026.