Shares in software service exporter Wipro Ltd fell as much as 2.2 percent while

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power equipment maker Siemens Ltd retreated on Thursday after India Index Services & Products Ltd said both companies would be removed from the Nifty on April 1.

India Index Services & Products announced the exclusion in a statement on Wednesday, adding private sector lender IndusInd Bank Ltd and iron ore producer NMDC Ltd would be included in the Nifty index in their place.

Wipro shares were down 2.7 percent as of 9:37 a.m. Siemens, the Indian subsidiary of Siemens AG, was down 1.7 percent. However, NMDC shares rose 2.8 percent while IndusInd rose 0.5 percent.