Select stocks turn volatile after MSCI reshuffle

Shares of select companies were volatile at 11:15 IST on BSE, following the semi-annual reshuffle of indices by MSCI, a global provider of research-based indices and analytics.

Meanwhile, the S&P BSE Sensex was down 276.20 points, or 1.07% at 25,590.75.

Shares of Ashok Leyland was down 0.55% at Rs 90. The stock hit a high of Rs 91.45 and a low of Rs 89.60 so far during the day.

Shares of Cadila Healthcare was down 0.91% at Rs 413.50. The stock hit a high of Rs 428.90 and a low of Rs 410.50 so far during the day.

Shares of Maruti Suzuki India was down 1.97% at Rs 4652.90. The stock hit a high of Rs 4735.95 and a low of Rs 4651 so far during the day.

Shares of Tata Motors DVR was up 4.05% at Rs 289. The stock hit a high of Rs 294 and a low of Rs 286 so far during the day.

Shares of DLF was down 1.16% at Rs 110.70. The stock hit a high of Rs 112.40 and a low of Rs 109.55 so far during the day.

Shares of Oil India was down 5.27% at Rs 372. The stock hit a high of Rs 389.70 and a low of Rs 369 so far during the day.

MSCI made changes to a host of indices, including the MSCI India and MSCI Smallcap indices. Under the review, it added four stocks and deleted two stocks in the MSCI India index. A total of 24 stocks have been included and 12 stocks dropped from the MSCI India Smallcap index.

MSCI added Ashok Leyland, Cadila Healthcare, Maruti Suzuki India and Tata Motors A shares and deleted DLF and Oil India from the MSCI India index.

Changes will be implemented from the close of trading on 30 November 2015, MSCI said in a statement.

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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