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What is the story about?
The changes to the MSCI Global Standard Index, announced earlier this month, will see adjustments to their respective inclusions, exclusions and weightage adjustments on Friday, May 29.
As per the changes announced earlier, Federal Bank, MCX, NALCO, and Indian Bank are the four stocks that will be included in the Standard Index, while stocks like Hyundai Motor India, Jubilant Foodworks, Kalyan Jewellers India and Rail Vikas Nigam (RVNL) will be excluded from the index.
According to Nuvama Alternative & Quantitative Research, the inclusions will see potential inflows ranging from $200 million to over $400 million when the adjustments take place today.
For stocks that will see an exclusion, the outflows are likely to range between $118 million to nearly $300 million.
In addition, stocks like Adani Power, BPCL, Nykaa, Trent and Oracle Financial will see an increase in their weightage.
On the flip side, stocks ranging from Bajaj Finance, Hindustan Unilever, TCS, Infosys, UltraTech, ONGC, Hindustan Aeronautics, Coal India, Mahindra & Mahindra, and Nestle India will see a decline in their weightage, with outflows ranging from $103 million to as high as $204 million.
Besides these names, there are many other stocks whose weightage will see a reduction on the standard index, including Power Grid, Cipla, Sun Pharma, Torrent Pharma, DLF, among others.
As per the changes announced earlier, Federal Bank, MCX, NALCO, and Indian Bank are the four stocks that will be included in the Standard Index, while stocks like Hyundai Motor India, Jubilant Foodworks, Kalyan Jewellers India and Rail Vikas Nigam (RVNL) will be excluded from the index.
According to Nuvama Alternative & Quantitative Research, the inclusions will see potential inflows ranging from $200 million to over $400 million when the adjustments take place today.
| Stock | Inflow ($ Million) |
| Federal Bank | 483 |
| MCX | 362 |
| NALCO | 328 |
| Indian Bank | 206 |
For stocks that will see an exclusion, the outflows are likely to range between $118 million to nearly $300 million.
| Stock | Outflow ($ Million) |
| Hyundai Motor India | -278 |
| Jubilant Foodworks | -151 |
| Kalyan Jewellers | -131 |
| RVNL | -118 |
In addition, stocks like Adani Power, BPCL, Nykaa, Trent and Oracle Financial will see an increase in their weightage.
| Stock | Inflow ($ Million) |
| Adani Power | 61 |
| BPCL | 42 |
| Nykaa | 25 |
| Trent | 5 |
| Oracle Financial | 1 |
On the flip side, stocks ranging from Bajaj Finance, Hindustan Unilever, TCS, Infosys, UltraTech, ONGC, Hindustan Aeronautics, Coal India, Mahindra & Mahindra, and Nestle India will see a decline in their weightage, with outflows ranging from $103 million to as high as $204 million.
| Stock | Outflow ($ Million) |
| Bajaj Finance | -204 |
| Hindustan Unilever | -194 |
| TCS | -140 |
| Infosys | -125 |
| UltraTech | -125 |
| ONGC | -122 |
| Hindustan Aeronautics | -114 |
| Coal India | -111 |
| Mahindra & Mahindra | -109 |
| Nestle India | -103 |
Besides these names, there are many other stocks whose weightage will see a reduction on the standard index, including Power Grid, Cipla, Sun Pharma, Torrent Pharma, DLF, among others.
| Outlows Range | No. Of Stocks |
| Up to $20 million | 27 |
| From $30 million to $50 million | 16 |
| From $50 Million to $75 Million | 8 |
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