MSCI September rejig to be effective from Friday's close: 2 PSUs to be added to MSCI Global Standard Index
Periodically, MSCI makes some rejig in the global indices which likely leads to fresh FII inflows.
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The MSCI Global Standard Index and MSCI Smallcap Index are slated for a rejig from today's close. As per Zee Business Research inputs, a total of Rs 33,530- Rs 37,730 crore in net inflows are estimated from the FIIs upon the rejig.
In the MSCI EM index, weightage of India will be increased to 20 per cent from 8 per cent in 2020. Also, the weightage of the country's top private lender by m-cap HDFC Bank will be increased in 2 phases.
MSCI Global Standard Index' stocks to be included
Company Expected Inflows (in cr)
DIXON TECH +2624
VODAFONE IDEA +2389
OIL INDIA +2163
ZYDUS LIFE +1861
RVNL +1777
PRESTIGE EST +1492
OFSS +1441
Stocks to be excluded and the likely outflow
Company Expected Outflow (in cr)
Bandhan Bank - 900
Weightage of the below stocks to be increased in MSCI Global Standard Index
Company Expected Inflows (in cr)
HDFC Bank +14830
Bharti Airtel + 2062
Coal India +822
HPCL +192
ICICI Lombard +159
Persistent Sys +125
Furthermore, 27 stocks will be included in the MSCI Smallcap index, including Bandhan Bank, Go Digit, Max Estates, Gulf Oil and GMR Power among others. Meanwhile, 6 stocks namely Dixon tech, Cochin Shipyard, IREDA, HUDCO will be ousted from the index.
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