Select stocks rally as MSCI to tweak foreign ownership limit in Indian stks

Shriram Transport Finance, Asian Paints, Nestle India, L&T, Bajaj Finance, Colgate-Palmolive India, Shree Cement, Ipca Laboratories, NTPC and Pidilite Industries were up in the range of 3% to 8%

Shares of select companies rallied up to 8 per cent on the BSE on Tuesday after MSCI said it will implement the new regime on the foreign ownership limits (FOL) in the MSCI Global Indexes containing Indian securities coinciding with the November 2020 Semi-Annual Index Review.

Shriram Transport Finance Company, Asian Paints, Nestle India, Larsen & Toubro, Bajaj Finance, Colgate-Palmolive India, Shree Cement, Ipca Laboratories, NTPC and Pidilite Industries were up in the range of 3 per cent to 8 per cent on expectation of inclusion into the MSCI indices. In comparison, the S&P BSE Sensex was up 0.5