BRN, CXO, LKE, NHC: These stocks to be included in ASX 200 index from 20 June

4 min read | June 06, 2022 06:13 PM AEST | By Ritwika

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BRN, CXO, LKE, NHC: These stocks to be included in ASX 200 index from 20 June — Image source: © Djbobus | Megapixl.com

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Highlights

BRN, CXO, LKE and NHC performed exceptionally well in the past one year on the ASX

These companies have also delivered substantial earnings growth

All the above stocks have gained investors’ attention after the news of S&P DJI rebalancing was announced

On 3 June 2022, the S&P Dow Jones announced some rejig in the S&P ASX indices after its recent quarterly review. The changes will be effective from 20 June 2022. Four new stocks will be included in the benchmark ASX 200 index- BrainChip, Core Lithium, Lake Resources and New Hope Corporation.

The stocks that will be removed from the ASX 200 index are- Appen, Codan, Polynovo, Platinum Assets and Tyro Payments. Worth mentioning here is that there is an additional removal from the S&P/ASX 200 index as it is currently carrying an additional constituent following the recent demerger of Tabcorp Holdings Limited (ASX:TAH).

These four stocks were chosen based on their financial performance, sustainable earnings, increase in market value and a positive share price performance on the ASX. The addition of these stocks under the ASX 200 index is expected to boost their prices further as passive funds tracking the ASX 200 index will most likely buy these stocks as part of their portfolio rejig. Also, the stock that are exiting the benchmark index are expected to witness selling pressure as passive funds will be selling these stocks to include the new entrants.

BrainChip Holdings Limited (ASX:BRN)

The shares of BrainChip Holdings Ltd (ASX:BRN) were spotted trading 1.173% lower at AU$1.052 per share at 1:24 PM AEST on the ASX today (6 June). This could be because of the overall weakness in the technology sector and market itself. This ASX-listed tech stock is to be included in the ASX 200 index with effect from 20 June.

The shares of BrainChip performed significantly well in the past one year. Share price of BrainChip has gained over 80% on the ASX over the past 12 months. On the other hand, BrainChip’s year-to-date share price also gained over 33% (as of 1:24 PM AEST on the ASX today, 6 June).

Read more: BrainChip (ASX:BRN) enters an AI Partner Program, ends strong

Core Lithium Ltd (ASX:CXO)

Image source: © Malpetr | Megapixl.com

The shares of Core Lithium Ltd (ASX:CXO) were spotted trading 0.823% lower at AU$1.205 per share at 1:54 PM AEST on the ASX today (6 June). This ASX-listed lithium stock is also another stock which is to be included in the ASX 200 index in the S&P DJI quarterly rebalance in June 2022.

As a result, Core Lithium is heavily traded on the ASX today. Approximately 9.8 million shares of Core Lithium were traded so far during today’s trading session on the ASX.

The share price of Core Lithium has gained over 330% higher on the ASX over the past 12 months. On the other hand, Core Lithium’s shares have gained over 91% on year-to-date basis (as of 1:54 PM AEST on the ASX today, 6 June).

Read more: Here's why Core Lithium (ASX:CXO) shares gained 422% in a year

Lake Resources N.L (ASX:LKE)

This is another stock which will find a place in the benchmark ASX 200 index starting from June 20. This ASX-listed mineral explorer has gained over 466% on the ASX over the past 12 months. On a year-to-date basis, LKE shares have rallied nearly 30%. However, shares of Lake Resources N.L (ASX:LKE) were spotted trading 1.045% lower at AU$1.420 per share today at 2:06 PM AEST, in-line with the overall weakness in the Materials sector.

New Hope Corporation Limited (ASX:NHC)

The shares of New Hope Corporation Limited (ASX:NHC) were spotted trading 1.538% higher at AU$3.96 per share at 2:15 PM AEST on the ASX today (6 June). This ASX-listed energy stock will also be included in the ASX 200 index as part of the S&P DIJ quarterly rebalance this month.

Therefore, New Hope garnered investors’ attention on the ASX today. More than three million shares of New Hope were traded so far in today’s trading session on the ASX.

The share price of New Hope has gained over 132% on the ASX over the past 12 months. On the other hand, this share has gained over 71% on a YTD basis (as of 2:15 PM on the ASX today, 6 June).

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