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MSCI rejig: ICICI Lombard included in India index; 14 stocks added to smallcap index

The MSCI quarterly index review changes will take effect from May 29, 2019, said the MSCI release

May 14, 2019 / 11:32 AM IST
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MSCI Inc., a leading provider of research-based indices and analytics, announced the Semi-Annual Index Review for the MSCI Equity Indices, including the MSCI India index and MSCI India Domestic Small Cap index.

The research firm included ICICI Lombard General Insurance in the MSCI India Domestic Index while deleted Cadila Healthcare from it, according to changes announced on May 13.

The MSCI quarterly index review changes will be effective May 29, 2019, said the MSCI release.

The MSCI India index is designed to measure the performance of the largecap and midcap segments of the Indian market. The index is reviewed quarterly—in February, May, August, and November—with the objective of reflecting a change in the underlying equity markets in a timely manner, while limiting undue index turnover

Currently, with 80 constituents, the index covers ~85 percent of the Indian equity universe. Sectorally, financial services have the highest weight in the index followed by technology.

Top 10 holding of MSCI index includes Reliance Industries, HDFC, Infosys, TCS, Axis Bank, HUL, ITC, ICICI Bank, Maruti Suzuki and L&T.

The research firm added 14 stocks in the MSCI India Domestic Small-cap index. They are: Aavas Financiers, Abbott India, Adani Gas, AstraZeneca Pharma, Balrampur Chini, Chalet Hotels, Credit Acess Grameen, Indostar Capital Finance, L&T Technology Services, Maharashtra Scooters, Oil India, Orient Electric, Sanofi India and TCNS Clothing.

It deleted 10 stocks from the MSCI India Domestic Small-cap index. They include CESC Ventures, DCM Shriram, Gujarat Mineral, Reliance Communication, Reliance Power, S H Kelkar, Shankara Building, Spencer Retail, Supreme Petro and Triveni Turbine.

The above report is for information only and not buy or sell ideas.

Disclaimer: advises users to check with certified experts before taking any investment decisions.

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