Motherson Sumi Systems and Zee Entertainment Enterprises rose 0.27% and 3.19%, respectively at 13:09 IST on BSE after MSCI Inc. said the two companies will be added to the MSCI India Index from the close of trading on 25 November 2014.
Motherson Sumi Systems (up 0.27%) and Zee Entertainment Enterprises (up 3.19%), edged higher.
The S&P BSE Sensex was down 109.57 points, or 0.39% at 27,806.31.
Meanwhile, HDFC Bank, Jaiprakash Associates, Reliance Capital and Reliance Power were removed from the MSCI India Index. HDFC Bank (down 1.84%), Reliance Capital (down 2.23%) and Reliance Power (down 2.09%), edged lower. Jaiprakash Associates was up 0.46%.
All the above changes to the MSCI India Index will be effective from the close of trading on 25 November 2014.
The stocks which had been added to the MSCI India index are likely to witness buying from passive foreign funds which track the return of the MSCI India index. Likewise the stocks which had been excluded from the index are likely to witness selling from passive funds.
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