3 Adani group stocks, SBI Cards, Apollo Hospital enter MSCI India index
May 12, 2021
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Burger India, IRCTC, Route Mobile, Happiest Minds, CAMS, Sun TV, UTI Asset now part of MSCI India Domestic Small Cap Index
Adani Enterprises, Adani Total Gas and Adani Transmission have entered MSCI India Domestic Index, according to a release by the index provider. SBI Cards and Payment and Apollo Hospitals too have entered the leading index, which is being tracked widely by global investors.
The half-yearly review of MSCI India index saw exclusion of Zee Entertaiment Enterprises, TVS Motor Co and Abbott India from the index and they have been included in the MSCI India Domestic Small Cap Index.
MSCI rejig: 3 Adani stocks and 3 others in; ZEE, TVS, Abbott thrown out
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Adani Enterprises, Adani Total Gas, Adani Transmission, Bharat Electronics, Cholamandalam Investment and SBI Card will be added to the MSCI India Index while Zee Entertainment will be the sole omission.
Reuters In all, 34 stocks were included in the MSCI India Domestic Smallcap Index while five were excluded.
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NEW DELHI: Index provider MSCI has announced multiple changes in its MSCI India Index. The half a dozen inclusions included three Adani group stocks. The changes will come into effect on the close of May 27.
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Mumbai: Discretion is the better part of valour, Shakespeare said about five centuries ago. For overseas investors, it’s still the best strategy to make money in covid-crippled India.
As an unprecedented viral wave shuts the country down for the second consecutive summer, discretionary expenditure has visibly ebbed and so has FPI enthusiasm for business-as-usual stocks that rely on normal mobility. Instead, this block that owns more than a fifth of India’s market value is now buying up the traditional ‘defensives’ products one can’t live without.
So, consumer staples and IT are featuring more prominently on FII buy lists while BFSI and autos get the short shrift. Overseas investors bought $376 million (Rs 2,800 crore) and $201 million (Rs 1,517 crore) worth of consumer staples and IT stocks, respectively, in April.
As foreign institutional investors (FIIs) turned net sellers in April, snapping their six-month buying spree, amid a violent and overwhelming outbreak of the second Covid wave in India, there were two sectors that still caught their fancy. The FIIs, which pulled out $1.29 billion from the equity markets last month their highest ever since March last year, still ploughed money in the FMCG and real estate sectors for two months in a row, shows a report by Edelweiss Securities. The two sectors which continue to see highest net inflow consecutively for the two months are – FMCG and Realty, the Edelweiss report compiled by Abhilash Pagaria said.