INSUBCONTINENT EXCLUSIVE:
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.
Source: MSCIMSCI 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.
Source:
MSCIMeanwhile, 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.
