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India weight in MSCI set to reach 20 per cent weight revision

ICICIdirect Research 30 Aug 2024 DISCLAIMER

Nifty has remained positive but witnessed high intraday volatility in last two sessions. First, due to Derivatives Monthly settlement on Thursday and then month end buying amid MSCI rebalancing today.

Continued outperformance of Indian equities have helped India to achieved its highest ever 20% weight in MSCI EM index from 19.4%. Today, inflows of nearly 5 billion was expected in Indian equities where HDFC Bank has seen the lion’s share to its weight increase. 

Apart from HDFC Bank, buying was seen among stocks like RVNL, OFSS, Idea, Prestige and Zydus Life due to their inclusion in MSCI Standard Index.

On the other hand, outflows were seen among heavyweights like Reliance and Maruti. Bandhan Bank has also seen strong outflows due to its exclusion from MSCI.

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