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Asian Paints is also projected to experience outflows exceeding $100 million due to a similar weight reduction
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Nuvama expects Swiggy, Vishal Mega Mart, Hitachi Energy and Waaree Energies to be added to MSCI Standard Index in August.
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The inclusion of the four stocks in the MSCI India Standard Index could lead to inflows worth $850 million, with Swiggy seeing flows worth $385 million.
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So far this year, the MSCI India index has risen just 2.33 percent, compared to a robust 9 percent gain in the MSCI Emerging Markets index. This divergence marks India’s first relative underperformance since 2020.
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Global index provider MSCI added Coromandel International and Nykaa to its Global Standard Index in its latest semi-annual review, effective May 30, 2025.
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A note by Nuvama Research is projecting that Coromandel International, One 97 Communication and FSN E-commerce Ventures could be included into the MSCI Global Standard Index during the May rejig, while Thermax could be excluded.
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JM Financial suggested that FSN E-Commerce Ventures, Adani Energy Solutions, and Coromandel International could join the MSCI India Standard Index in May.
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Auto major Hyundai Motor India was the only large-cap stock added to the MSCI Global Standard Indexes during the review.
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The Chinese government's initiatives, cheap equity valuations, and technology thrust are likely to keep foreign capital invested in China.
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India's weightage in the key MSCI Emerging Markets index fell below the 20 percent mark as the ongoing correction weighed on stocks' market-caps.
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Coforge is likely to see the most flows, bringing around $293 million, followed by Fortis Healthcare with $176 million, noted JM Financial.
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Currently, India's weightage in the MSCI Global Standard index is 19.3 percent, with 151 stocks, while China has a weight of 27 percent.
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The latest rejig is expected to raise India’s weightage in the MSCI Emerging Market Index from 19.3 percent to nearly 19.8 percent, marking the largest basis-point increase among all EM indices in this round.
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The increase in weightage could result in inflows of approximately $290 million, translating to about 17 million shares, said Nuvama Alternative Research.
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On Moneycontrol's Pro Panorama on August 14 edition: SC verdict on mining casts shadow over corporate earnings, carbon capture in mission mode, Mamata's acceptance of CBI probe signals her waning authority, large cap funds receive less than 10% active fund in 6 years, and more
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Seven stocks will be added to the MSCI India index, while only one stock will be excluded in the August reshuffle.
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MSCI has lifted restrictions on the treatment of Adani Group stocks, resuming updates to their free float status and other metrics in its August 2024 Index Review. The changes also include reduced weightage for Adani Enterprises and Ambuja Cements in the Standard Index.
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MSCI will continue to monitor the foreign room of HDFC Bank and issue further communication in case there are material changes.
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The HDFC Bank stock's prolonged underperformance may soon end as its weightage in the benchmark MSCI index is set to rise following the drop in FII ownership. This could attract inflows of anywhere between $3-5 billion from passively managed funds that are benchmarked to the MSCI index.
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FPI Overweight position in HDFC Bank to go down, setting the stage for outperformance.
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India's weight in the MSCI Emerging Market Index will be around 18.8 percent, marking a significant leap from just around 8 percent in early 2020.
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MSCI's broadest index of Asia-Pacific shares outside Japan lost 0.57%. Australia's S&P/ASX 200 index was one of the biggest decliners, slumping 0.8%, also hurt by a pullback in some commodity prices.
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Morgan expects CTAs to buy about $29 billion in global stock futures — including $8.5 billion in S&P 500 contracts — if equities were to rally over the next week
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At the current pace, DIIs could surpass FPI holdings in the next few quarters, with the gap between the two at an all-time low
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European stocks dipped 0.2% to hover just shy of recent highs, as lacklustre corporate earnings also weighed on sentiment. German stocks bucked the trend to add 0.2%.
