Stock Market Highlights, Aug 13: Sensex sheds 693 pts, Nifty below 24,150; HDFC Bank, SBI, TaMo drag

Stock Market Highlights on August 13, 2024: Broader indices also settled lower, with small-cap shares being the worst hit as the Nifty Smallcap 100 index fell 1.30 per cent

SI Reporter New Delhi

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11:29 AM

India's weight in MSCI EM Index hits 20%; RVNL, Dixon to get huge inflow

MSCI EM Index, MSCI Global Standard Index rejig: The market rally in the last few years that took the S&P BSE Sensex and the Nifty50 to all-time high levels has seen India’s weight in the MSCI EM Index move up from around 8 per cent in 2020 to an exact 20 per cent today, analysts at Nuvama said in a recent note.

Given the current pace and momentum, they expect India to potentially cross the 22 per cent mark by this year-end. Read more

MSCI rebalancing could see addition of three Indian stocks, two deletions

11:15 AM

RVNL, OIL India, Dixon Tech shares rally 5% after inclusion in MSCI Index

Shares of Rail Vikas Nigam Ltd, Dixon Technologies, and OIL India among others rose up to 5 per cent after their inclusion in the MSCI India index.

In its latest reshuffle, the MSCI Global Standard Index included seven companies in the MSCI India. While Bandhan Bank is the only Indian stock that will be removed from the index. Read more

11:01 AM

RVNL, Voda Idea, Dixon, HDFC Bk can rally up to 27% on MSCI inclusion boost

Global index provider - the MSCI on Tuesday in its latest index rejig for the month of August said will add 7 stocks to its MSCI India Index, a part of the MSCI Global Standard Index, while dropping 1 out.

Rail Vikas Nigam Limited (RVNL) along with Vodafone Idea (Voda Idea), Dixon Technologies, Oil India, Prestige Estates, Oracle Financial, and Zydus Lifesciences will be included in the MSCI India Index. Bandhan Bank, will be the only stock, to be removed from the India index. Read more

10:42 AM

MSCI Aug rejig: India weight on equity index at record; $3 bn inflows eyed

India's weight on the MSCI Global Standard index, which tracks emerging market stocks, has risen to another record high, which is likely to attract inflows of about $3 billion into its equity markets.

India has further narrowed the gap with China on the key MSCI index. While China's weightage on the index will fall to 20.2 per cent from 25 per cent, India's weight will rise to 19.8 per cent from 19.2 per cent. The changes in the index weights will come into effect on after markets close on Aug. 30. India's weight could likely rise above 20 per cent at end November. Read more

10:32 AM

Unicommerce eSolutions IPO listing: Shares debut with a solid 117% premium

Unicommerce eSolutions IPO listing: Shares of Unicommerce eSolutions made a stellar debut on the bourses - BSE and NSE - on Tuesday. On the BSE, the company's shares listed at Rs 230, a premium of 112.96 per cent from the upper end of the IPO issue price of Rs 108, yielding a return of Rs 122 per share for investors.

On the NSE, Unicommerce eSolutions shares also listed at Rs 235, 117.59 per cent above the issue price. Read more

10:20 AM

MSCI August rejig: HDFC Bank dips 3% on lower than expected weight increase

HDFC Bank share price today dipped 3 per cent to Rs 1,614.55 on the BSE in Tuesday's intraday trade. The fall came on a lower than expected increase in weight in MSCI index.

MSCI has announced that the weight of HDFC Bank will be gradually increased, in two tranches, to full weight of 1. In the coming rebalancing on August 30, it will be increased by just 25 bps as against market expectations of 50bps. This lower than expected increase in weight, analysts at ICICI Securities said, could keep the stock in a range in the near-term. Read more