MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.56%. Australian stocks edged up by 0.1%, while shares in China rose 0.07%. Tokyo shares gained 0.4%
MSCI's broadest index of Asia-Pacific shares outside Japan gained half a percent, lifting away from a one-month low made on Wednesday
While legroom for overseas investors in Indian firms has gone up after govt's move to automatically bring sectoral foreign investment limit under FPI, index provider seeks more clarity on changes
SGX's stock fell close to 12%, the most since 2003, amid concerns over revenue loss
MSCI India Domestic Small Cap Index, on the other hand, has seen 52 deletions which include BSE, Venky's India, Jammu & Kashmir Bank, Power Finance Corporation and Dish TV India
The rebalancing is scheduled to take place on May 12 and the changes will become effective from June 1
Move follows MSCI step, inflows may rise by $2 billion
In October, the Indian government had issued a circular raising statutory FPI limit of Indian companies to the sectoral foreign investment limit
Global index provider was expected to hike the weight after Centre's decision to virtually increase investment limit for overseas investors in domestic firms
Berger trading at more than 25% premium to Asian Paints
US crude soared 4.42% to $65.47 a barrel
FPI limit hike will be implemented from April 1, 2020
While MSCI will make each company's scorecard free to access, its paying clients will still have access to a much deeper level of analysis
The index finished the session down 2.6%. It has declined 1.3% since the protests first flared up in the second week of June, versus 6% gains in the MSCI All-Country World Index.
MSCI, the world's biggest index compiler, has added eight Indian stocks including HDFC Asset Management, Info Edge (India) and Indraprastha Gas Ltd to its India Index, while removing Vodafone Idea, Yes Bank and four others that have seen significant market capitalisation erosion this year. It has added eight companies and deleted six from the MSCI India Domestic Index. Those deleted include Bharat Heavy Electricals Ltd (BHEL), Glenmark Pharmaceuticals, Indiabulls Housing Finance, L&T Finance Holdings, Vodafone-Idea Ltd and Yes Bank, MSCI said in a statement. Those added to the MSCI India Index include Berger Paints, DLF, HDFC Asset Management, ICICI Prudential Life, Indraprastha Gas Ltd, Info Edge (India), SBI Life Insurance Co and Siemens India. MSCI added seven stocks and deleted four from MSCI Global Standard Index. The additions included Berger Paints, Colgate, DLF, HDFC AMC, ICICI Prudential Life, SBI Life, and Siemens. Meanwhile, the deletions from the global index include ..
Polycab India surged 7 per cent to Rs 915, surpassing its previous high recorded on October 30 in the intra-day trade.
The changes will come into effect from November 26 post market hours, the report added.
In the past two weeks, Bandhan Bank has outperformed the market by surging 33 per cent on run-up to inclusion in the MSCI Standard Index, effective October 15, 2019.
The share swap ratio for the amalgamation was fixed at 568 shares of Bandhan Bank for every 1,000 shares of Gruh Finance.
One estimate shows the MSCI inclusion could lead to ETF buying of nearly Rs 1,280 crore in Bandhan Bank.