GAGA Share Market News

[hfe_template id='11223'] [ad_1] Sensex rallied over 1135 points on Monday morning as MSCI November 2024 index review came into effect from today with Indian stocks expected to attract about $2.5 billion in passive foreign institutional investor (FII) flows. Banking heavyweight HDFC Bank would also be in the spotlight, with its weightage in the index slated to increase, bringing in a projected $1.9 billion in inflows. The quarterly MSCI revision strengthens India's position in the Emerging Markets (EM) Index, highlighted by notable additions and adjustments that have captured market interest. With five new entries and no exclusions, India's stock count in the MSCI Standard/EM Index will rise to 156. India's weight in the MSCI EM Index will rise from 19.3% to nearly 19.8%, making it the largest gain in basis points among EM countries during this update, according to Nuvama Institutional Equities. BSE, Voltas, Alkem Laboratories, Kalyan Jewellers, and Oberoi Re...

[hfe_template id='11223'] [ad_1] Shares of India's largest private sector lender HDFC Bank, which has been testing investor patience for the last few years, may attract $1.8 billion inflows as global index services provider MSCI may increase its weightage. HDFC Bank's September shareholding pattern shows that the FII headroom remains safely above 20%. "As a result, the second phase (and last) of the weight increase will occur during the November '24 rejig, which is expected to lead to approximately $1.8 billion in inflows in HDFC Bank," Nuvama Alternative & Quantitative Research said. Earlier in August rejig also, MSCI had raised HDFC Bank's weightage leading to FII flows. The Nifty stock has lost about 1% of its value so far in the calendar year 2024 and is up only 42% in the last 5 years. HDFC Bank has a strong history of doubling investor wealth every 4-5 years but the performance in the last few years has made investors jittery. Earlier ...

[hfe_template id='11223'] [ad_1] The NSE Indices Committee recently announced the September 2024 semi-annual reshuffle, affecting major indices such as the Nifty 50, Next 50, Nifty 100, and Nifty Bank. Effective September 30th, these adjustments are expected to significantly impact fund flows within the market. Two sectors, in particular, are poised for significant activity: retail and defense. In the Nifty 50, Trent and Bharat Electronics are set for inclusion. Meanwhile, Divis Labs, LTI Mindtree, Bharat Heavy Electricals, JSW Energy, Lodha, NHPC, and Union Bank are entering the Nifty Next 50. Conversely, Trent, Bharat Electronics, Colgate, SRF, Marico, SBI Card, and Berger Paints will exit the index. In the Nifty Bank index, Canara Bank will replace Bandhan Bank in a significant change. However, simply listing the entries and exits doesn’t capture the full impact. The real significance lies in understanding the resulting inflows and outflows of funds. Let’s explore thi...

[hfe_template id='11223'] [ad_1] American Depository Receipts (ADRs) of HDFC Bank rallied more than 3.5% in early trading on the New York Stock Exchange Tuesday driven by expectations that its weighting on the MSCI Standard Index could double in the August reshuffle. This anticipation follows a decline in foreign investors' stakes to below 55% in the June 2024 quarter. The change in MSCI weighting could potentially lead to an inflow of up to $4 billion from passive funds, analysts' estimates showed. Legroom for foreign holding in the bank has now gone up to 25.9%, against the MSCI requirement of 25% for increasing the weighting. "Currently, HDFC Bank's weighting in the MSCI EM Index is around 3.8%. After the rejig, this could jump to 7.2-7.5%, potentially bringing in $3.2 billion to $4 billion in inflows," said Abhilash Pagaria, head - Nuvama Alternative & Quantitative Research. On the NSE, shares of the bank had closed at ₹1,728 after a gain of...

[hfe_template id='11223'] [ad_1] Mumbai: Global index services provider MSCI has included 13 Indian stocks in its Global Standard Index and removed three. That takes the total count of domestic stocks on the MSCI indices to 146, up from 136. The change is scheduled for May 31 and India could potentially witness an inflow of $2.5 billion from global passive funds, the highest among any emerging market in the current index rejig. Global passive funds, such as exchange-traded funds, structure their portfolios based on these indices. Any change in composition prompts these funds to adjust their allocations. The newly included stocks are JSW Energy, Canara Bank, Indus Towers, PB Fintech, Sundaram Finance, and NHPC. Berger Paints has been dropped, while Indraprastha Gas and Paytm's parent, One 97 Communications, have been downgraded to the small-cap index. "India has once again achieved a major milestone in this rejig, as its representation in the MSCI EM Index is set...