The global index provider announced the changes in the global standard index on Wednesday
As many as nine firms, including IndusInd Bank, Suzlon Energy and One 97 Communications, were added to the MSCI India Index, according to an update announced by index compiler MSCI. There are nine additions to the MSCI India index, and the changes in constituents will take place on the close of November 30, 2023, it said. APL Apollo Tubes, IndusInd Bank, Macrotech Developers, One 97 Communications (Paytm's parent firm), Persistent Systems, Polycab India, Suzlon Energy, Tata Communications and Tata Motors will be added to the MSCI India index, as per the announcement. Shares of Suzlon Energy jumped 4.79 per cent, One 97 Communications rallied 2.90 per cent, Tata Motors climbed 2.84 per cent, Persistent Systems (0.61 per cent) and Macrotech Developers (0.37 per cent) on the BSE. However, the stock of IndusInd Bank fell 1.05 per cent, Tata Communications lost 1.26 per cent, APL Apollo Tubes dipped 0.90 per cent, and Polycab India skidded 0.04 per cent. MSCI Global Standard Index is .
Nine stocks, including private lender IndusInd Bank Ltd. and wind-turbine maker Suzlon Energy Ltd., will be added to MSCI's global standard gauge on Nov. 30
The changes in MSCI Global Standard Indexes' constituents will be effective at the close of November 30 trading day
An analysis by IIFL Securities, shows APL Apollo could see inflows worth $195 mn from passive trackers, followed by Tata Motors ($134 mn) and Lodha ($128 mn)
Brokerage goes 303 bps overweight on domestic markets in MSCI Asia Pac ex-Japan portfolio
IDFC First Bank, REC, PFC, Ashok Leyland, HDFC AMC, Cummins India, Astral, and Supreme Industries shares are poised to receive $152 to $214 million inflows today
Barring Cummins India, which did perform in the current year but the present structure shows sluggishness; all other stocks included in MSCI index are poised for the next bull-run.
In the MSCI India Domestic SmallCap index, it added a total of 41 securities including Aether Industries, Avalon Technologies, Glenmark Life Sciences, Kalyan Jewellers, Star Health, and Sula Vineyard
Thus far in the calendar year 2023, the stock price of Supreme Industries has zoomed 83 per cent, as compared to 7 per cent rise in the S&P BSE Sensex.
The MSCI India Index slumped about 9% mid-day local time even as the Nifty 50 Index, the benchmark gauge of the National Stock Exchange of India Ltd., was down about 1%
Global index provider FTSE has increased the weightage of Vedant Fashions (Manyavar) in four of its indices
In a note, Nuvama Research. said that Kotak Mahindra Bank's weighting in the index has gone up by 135 basis points to 2.8 per cent
Among the new additions to the MSCI Small Cap index, KFIN Technologies, Syrma SGS Technology and Ujjivan Small Finance Bank have rallied up to 6 per cent.
The sharp decline in Adani Transmission and Adani Total Gas follows global index provider MSCI's decision to reduce the free float of the duo in its index review this month
Adani Total Gas and Adani Transmission in the MSCI Standard indices could now halve
Shares of HDFC and HDFC Bank dropped up to 6 per cent. The Street had expected inflows worth $3 billion by foreign portfolio investors
Analysts predict both PSU stocks to rake in huge passive inflows; Adani Transmission and Indus Towers could get removed from index
Biocon share may slip up to 21 per cent if breaks 52-week low
Shares of HCL Technologies slipped 3.3 per cent to Rs 1,108.55 on the BSE in Friday's intra-day trade on profit booking