Global indices rejig likely to push flows into domestic stock markets

Several domestic stocks are expected to witness inflows from exchange-traded funds (ETFs) over the next few weeks owing to rebalancing of their underlying indices.

The FTSE Global Equity Index Series introduced changes to its indices last week, which will become effective March 19. 

According to an analysis done by Abhilash Pagaria of Edelweiss, Bharti Airtel (inflows of $65 million), Larsen & Toubro ($54 million), and Tata Consultancy Services ($46 million), along with eight other stocks, will see buying by passive funds on account of an increase in their weighting. 

Meanwhile, Apollo Hospitals Enterprise ($79 million), Honeywell Automation India ($40 million), and Adani Total