FTSE rejig: Bucking the trend, Vishal Mega Mart shares dropped over 1% to trade in the red at Rs 125 apiece.
Vishal Mega Mart, Hyundai Motor, Waaree Energies and Swiggy slated to join FTSE Russell global equity indices on June 20, along with five other stocks.
India’s equity markets are expected to receive $1.4 billion to $1.6 billion in inflows as 14 firms join FTSE's All-World Index post-rebalancing.
KEI Industries, IRB Infrastructure Developers, and Cochin Shipyard are among 13 stocks set to be added to the FTSE All-World Index.
The inflows were led by iShares MSCI India ETF (ticker INDA), Franklin FTSE India ETF (ticker FLIN) and WisdomTree India Earnings Fund (ticker EPI). In total, the three funds received $1.08 billion over the past month, driven by investor optimism over the nation’s growth prospects.
Rejigs in three major indices, FTSE, Sensex and Bharat 22, come into effect from March 15
The FTSE All-World Index is a market-capitalisation weighted index representing the performance of the large and mid-cap stocks from the FTSE Global Equity Index Series. As of January 31, 2024, India's weightage in the index is 2.06%, with 213 stocks.
FTSE will rejig its indices on September 15 as part of its semi-annual review. The changes will be effective from September 18.
FTSE Russell said it has considered client feedback on the potential impact on the company’s foreign headroom if the shares in issue and free-float update are implemented on a one-off basis