MSCI November rejig review: BSE, 4 others added; HDFC Bank weight to rise

Kalyan Jewellers India, Voltas, and BSE were upgraded from the small cap segment to mid cap segment of the MSCI Emerging Markets Index

MSCI Inc. today (November 7) announced the results of its November 2024 Index review for the MSCI Equity Indexes. All changes will be effective from the market close of November 25, 2024. 

 

The MSCI Global Standard Indexes added five Indian securities—Alkem Laboratories, BSE, Kalyan Jewellers India, Oberoi Realty, and Voltas—avoiding any removal. 

 

Kalyan Jewellers India, Voltas, and BSE were upgraded from small cap segment to mid-cap segment of the MSCI Emerging Markets Index. Meanwhile, Oberoi Realty and Alkem Laboratories were freshly added to the index. 

 

As per the MSCI November review circular, no Indian stocks were removed from the MSCI Emerging Markets Index.

 

 

Among others, expected inflows from Voltas' inclusion is $306 million. Here's full list:  

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Changes in MSCI India Domestic Small Cap Index

Meanwhile, Aadhar Housing Finance, Advanced Enzyme Tech, Anup Engineering, Balu Forge Industries, Bondana Engineering, Brainbees Solutions, DCM Shriram, Entero Healthcare Soln, Eureka Forbes, Ganesha Ecosphere, Indegene, JSW Holdings, PC Jewellers, Refex Industries, and Signature Global India were added to MSCI India Domestic Small Cap Index. 

 

Conversely, Delta Corp, Fusion Finance, GMR Airports Infra, Hinduja Global Solutions, Hitachi Energy, Jindal Stainless, and TCI Express were removed from the MSCI India Domestic Small Cap Index.

Weightage changes 

MSCI also increased the adjustment factor of HDFC Bank to 1.00  from 0.75 as of the close of November 25, 2024. This will lead to an increase in its Foreign Inclusion Factor (FIF) to 0.74 from 0.56. 

 

As per reports, the MSCI November rejig also saw the weight increase of Voltas, Kalyan Jewellers India, BSE, Oberoi Realty, Alkem Laboratories, Samvardhana Motherson Ltd., Tata Power, JSW Energy, and IndiGo.

 

Overall, 22 securities were added and 57 securities were deleted from the MSCI ACWI Index. In the MSCI Global Small Cap Indexes, 141 securities were added and 219 were removed from the MSCI ACWI Small Cap Index. 

 

Similarly, in the MSCI ACWI Investable Market Index (IMI) 114 additions and 227 deletions were made. In the MSCI World All Cap Index, 114 additions and 70 deletions were made. 

 

From the MSCI Frontier Markets Index, 4 additions and 5 deletions were made. 

 

Besides, due to accessibility issues, MSCI did not make any changes to any securities for the MSCI Bangladesh Indexes or impacted composite indexes.

 

MSCI is a leading provider of global investment indexes, tools, and data analytics. It is widely known for offering indices that track the performance of various asset classes, regions, and sectors, helping investors benchmark their portfolios, guide asset allocation, and measure investment performance.