MSCI India's weight to rise by 70 bps in May 2020 review: Morgan Stanley

Global brokerage house Morgan Stanley on Monday said it expects MSCI (Morgan Stanley Capital International) India's weight to rise about 70 basis points in May 2020 review with Rs 19,000 crore inflow in the Indian equity market.

The review takes place after every six months in May and November.

The expected rise in weightage comes on the basis of the announcement in the July 5 budget according to which the statutory limit for Foreign Portfolio Investment (FPI) investment in a company from 24 percent to a higher sectoral limit.

FPI limit hike will be implemented from April 1, 2020.

Foreign institutional investors pumped in over Rs 25,000 crore in the Indian equities in the past two months on the back of firm global cues.