MSCI Rejig: India may see $2.5 billion FII inflows
[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...