MSCI’s index for stocks in developing nations rose the most in three weeks, partially buoyed by earnings and a rally in Chinese shares as weak data fueled hopes for stimulus. Still, the gauge is set to post its first monthly losses since January
HDFC Bank's shareholding pattern for the June quarter implies that the stock is eligible for a weightage increase at the upcoming MSCI Index rejig in August. Shares of HDFC Bank had managed to hold firm on Tuesday in a weak market.
Dixon Tech and Voda Idea are seen as the two biggest recipients of inflows, projected to garner $274 million and $254 million respectively.
The under-allocation will change as investors understand the issue, 'bringing foreign inflows into India as the weight of India rises in MSCI indices and investors move to 'actively' allocate to the India opportunity', Samir Arora's Helios Capital has said
The MSCI India Index slumped about 9 percent mid-day local time even as the Nifty 50 Index, the benchmark gauge of the National Stock Exchange of India Ltd., was down about 1 percent.
This came following a nine-month high investment of Rs 43,838 crore in equities in May, Rs 11,631 crore in April and Rs 7,936 crore in March, data with the depositories showed.
MSCI lowering the weight of Adani Group stocks on the grounds that they do not meet the free float criteria
These inflows will get distributed into index heavyweights like Reliance Industries Ltd, Infosys Ltd, HDFC Ltd, ICICI Bank Ltd and TCS, the brokerage report added.
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The FTSE Index inclusion shouldn’t happen before the September review. Also, it is difficult for the stock to enter the Sensex and Nifty 50 indices in the near term as criteria for those are more stringent
To get a higher weight in the much-tracked MSCI EM index, India needs to lay the red carpet for investors as China has done
From being very bullish on India 12 months ago, investors across the US have now become negative at the margin on India, says Macquarie in a research report.
MSCI Index gives high weightage to investible surplus and float, says Deborah Yang, Head of Index Business, EMEA & India Region, MSCI.
Raman Aylur Subramanian, executive director- Index Research at MSCI discusses the changes made at the MSCI's semi-annual review.
Euro STOXX index is up 9 percent so far this year while a dollar-based MSCI index of equities from leading emerging giants of Brazil, Russia, India and China have lost almost 13 percent
The Nikkei extended its gains after encouraging data from Europe and the United States. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.5 percent in early trade, reversing Monday's 0.3 percent fall.
The changes will take place after the close of trade on May 31, MSCI added.
The euro on Friday rose against the dollar to its highest since April in the wake of encouraging remarks from the head of the European Central Bank, while an improving economic outlook held world stock prices near a 20-month high.
Asian shares edged lower on Friday as investors kept a wary eye on corporate earnings results under way.
Asian shares inched up Thursday as signs of recovery in China and the United States eased fears of deteriorating global growth, though generally weak corporate earnings continued to make investors wary.
The rupee is likely to fall early on Thursday, weighed by the dollar's gains versus major currencies, pressure from importers and caution before the central bank's rate decision at 11 a.m.
The rupee is expected to weaken on Friday, a day after it snapped an eight-session losing streak, as global risk-off sentiment will likely prompt investors to pull out of equities.
The rupee could test fresh 2-1/2 year lows on Tuesday after doubts over European policymakers capacity to contain the region's debt crisis kept risk appetite subdued and pushed Asian equities and the euro lower.
Asian stocks posted early gains on Friday, as the relatively stable euro ahead of a European finance ministers meeting reflected hopes for a big policy move to fight a debt crisis.
A rebound in Asian stocks and the euro stalled and gold edged up on Wednesday as investors waited for convincing signs of progress on taming the euro zone debt crisis.