Never miss a great news story!
Get instant notifications from Economic Times
AllowNot now


You can switch off notifications anytime using browser settings.
11,940.1055.6
Stock Analysis, IPO, Mutual Funds, Bonds & More

MSCI rejig: YES Bank, Voda Idea, IB Housing make way for SBI Life, HDFC AMC, DLF

The changes in the constituents for the MSCI India Index will take place from November 26.

ETMarkets.com|
Updated: Nov 08, 2019, 11.25 AM IST
0Comments
Getty Images
Chart-2---Getty
MSCI also made certain changes to the MSCI India Smallcap index.
NEW DELHI: Global index compiler Morgan Stanley Capital International (MSCI) announced changes to MSCI India index last night wherein it added eight stocks in the index, while decided to delete as many as six counters.

MSCI added Berger Paints India, DLF, HDFC Asset Management, ICICI Prudential Life, Indraprastha Gas, Info Edge (India), SBI Life Insurance and Siements to the MSCI India index.

On the other hand, the firm decided to delete Bharat Heavy Electricals (Bhel), Glenmark Pharma, Indiabulls Housing Finance, L&T Finance Holdings, Vodafone Idea and YES Bank.

The index is designed to measure the performance of the largecap and midcap segments of the Indian market.

The changes in the constituents for the MSCI India Index will take place from November 26.

MSCI table 1
Source: MSCI

MSCI also made certain changes to the MSCI India Smallcap index. The index provider added Brigade Enterprises, Deepak Nitrite, Galaxy Surfactants, Glenmark Pharma, Indiabulls Housing Finance, Metropolis Healthcare, Navin Fluorine, Orient Electric, Polycab India, Spandana Sphoorty, Sterling and Wilson, Vodfone Idea and YES Bank in the MSCI India Smallcap index.

On the other hand, it excluded Arvind, Care Ratings, Info Edge, Jagran Prakashan, Jain Irrigation, Magma Fincorp, Muthoot Finance, PC Jeweller, Reliance Capital, Reliance Infra, Sharda Cropchem, Suzlon, Time Technoplast, Whirlpool of India.

Shares of YES Bank were trading over 2.50 per cent up at Rs 68.25 in the morning trade, while Vodafone Idea was down over 3 per cent at Rs 3.79.

msci table 2
Source: MSCI

Meanwhile, benchmark equity indices BSE Sensex & NSE Nifty were trading lower after Moody's Investors Service changed the outlook on India's ratings to 'negative' from 'stable', saying there was increasing risks that economic growth will remain materially lower than the past.

It affirmed the Baa2 foreign-currency and local-currency long-term issuer ratings for India.

Also Read

China local shares to rise above 4% weight in MSCI EM benchmark

MSCI may axe debt-laden Indian companies from its indices

No more a laggard, Indian stocks best MSCI EM Index

HDFC Life may get more muscle in MSCI Index, stock surges

Bandhan Bank ends 15% up ahead of MSCI entry

Comments
Add Your Comments
Commenting feature is disabled in your country/region.
Download The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.

Other useful Links


Follow us on


Download et app


Copyright © 2019 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service