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SEOUL: African ambassadors and South Korean trade experts are exploring the economic potential of bilateral ties between Korea and Africa during the Africa Day Business Forum, co-hosted by The Korea Herald and the African Group of Ambassadors.
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.
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's weight in MSCI's Global Standard index, which tracks emerging market stocks, has risen to another record high, boosting prospects of more inflows into its equity markets. ...