Global Large Cap News Today

On Thursday, the global index aggregator said Jio Financial will be deleted from all indices with effect from August 22, since it did not commence trading after 20 business days of being added to the index at zero value

Since Jio Financial Services (JFSL) did not commence trading after 20 business days, and no firm trading date has been announced by the conglomerate, the index aggregator decided to remove it from all indices.

According to the bulk deals data with exchanges, Twin Star offloaded 15.4 crore shares or a 4.14% stake in the company. The transaction was done at a weighted average price of Rs 258, a 5% discount to Wednesdays close price.

JFS will be added to the FTSE All-World index with a share issue of 6,765,591,509 and an investability weighting of 49.66%. RIL will remain in the index with an unchanged investability weighting of 49.66%, FTSE said.

As Adani firms embattle allegations of the Hindenburg report in court, last week, it looks like the rating companies were asked by Sebi to share the information including all outstanding ratings, outlook, and possible updates from any discussions with Adani Group officials.

Adani Groups stocks together hold a market valuation of ₹8,27,303.99 crore as of February 20, which is far lower than the market cap of Reliance Industries (RIL), Tata Consultancy Services (TCS), and HDFC Bank.

In the coming week, global markets are likely to dominate the sentiment in domestic equities. .Both Sensex and Nifty 50 have gained around 0.5% during the week that ended on February 17th. .Adani Groups stocks, SpiceJet, Mahindra CIE will be in focus.

Adani and its securities have come under the radar after a US-based short-sellers report that came in late January this year..FTSE has been monitoring and reviewing publicly available information relating to the Adani Group and its stocks.