MSCI will include Paytm, Fortis Healthcare, GE Vernova T&D India, and Siemens Energy India in its Global Standard Index, triggering over $1.4 billion in passive inflows
Under the approved demerger scheme, the commercial vehicles arm will have the name Tata Motors, which is expected to be listed soon
The MSCI EM index rose 7 per cent in September, its ninth monthly gain in a row, driven by China's equities, while India trailed with modest returns and foreign outflows
MSCI index changes triggered FPI selloff worth Rs 6,516 crore as Sona BLW and Thermax were dropped, though inclusions like Swiggy and Waaree partly cushioned the outflows
Markets have held modest ranges in recent weeks, waiting to see whether the world's two largest economies can agree on a durable trade deal or if global supply chains will again be upended
MSCI Global Standard Index Inclusion: Swiggy, Vishal Mega Mart, Hitachi Energy and Waaree Energies look favourably placed on charts; may see up to 29 per cent upside form here.
On Wall Street at 10:54 a.m. the Dow Jones Industrial Average fell 53.36 points, or 0.12 per cent, to 44,318.15 while the S&P 500 fell 6.66 points, or 0.11 per cent, to 6,253.09
Swiggy, Mazagon Dock, Hitachi Energy, and Waaree Energies may join MSCI Index in August review, attracting $850 million in passive inflows
Shares of Eternal fell over 4% on reports of passive outflows following index weightage cuts by global index providers FTSE Russell and MSCI
Technical chart suggests that Coromandel International could face some downward pressure in the near-term; while GMR Airport, Authum Investment and Le Travenues look good for near-term gains.
Shares of the agrochemicals firm Coromandel traded muted, even as it was included in the MSCI Global Standard Index
There will be no deletions taking place from the Global Standard Index
Among other notable changes, MSCI removed 11 stocks from the MSCI Korea Index while adding none. It culled nine from Japan and added one
Foreign portfolio investors reduced their stake in IndusInd Bank to 46.63 per cent in December 2024, from 55.53 per cent in the September 2024 quarter, enhancing foreign headroom at 25 per cent
Experts said the institutional flows on Monday was largely a one-off event due to MSCI buying and selling and not a change in trend
The change in the pecking order comes amid a sharp rally in China equities, while India has seen record foreign outflows coupled with earnings disappointment
In the early hours of Thursday, MSCI Inc. announced that it has included Alkem Laboratories, BSE, Kalyan Jewellers India, Oberoi Realty, and Voltas in its MSCI Global Standard Indexes
MSCI said there would be 156 Indian stocks in the index, but that is only one-fourth of China's 598, signalling scope for further inclusion of Indian stocks on the index
Kalyan Jewellers India, Voltas, and BSE were upgraded from the small cap segment to mid cap segment of the MSCI Emerging Markets Index
China's weight has fallen by half since peaking in early 2021, while India's has more than doubled during this period