Select stocks rally ahead of inclusion in MSCI index
Two stocks included in MSCI's India Index rose by 3.08% to 7.46% at 9:47 IST on BSE.
Glenmark Pharmaceuticals was up 7.46% at Rs 1,137.35.
Indiabulls Housing Finance was up 3.08% at Rs 780.
Jindal Steel & Power, which will be excluded from the index, was down 4.24% at Rs 65.55.
The S&P BSE Sensex was up 134.03 points, or 0.49% at 27,683.56.
Changes will be implemented from the close of trading on 31 August 2015, MSCI said in a statement.
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MSCI Barra is a leading provider of benchmark indices and risk management analytics products. Many global mutual funds are linked with MSCI indices. Hence, any new stock addition in MSCI index will require the fund tracking that index to include it in its portfolio.
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