MSCI Financial News

rates staying higher for longer as long-term bond yields surged. MSCI's broadest index of Asia-Pacific shares outside Japan were up 0.1% after hitting a nine-month low the session before. It was, however, headed for a weekly loss of 2.8%, the third straight week of declines.

Treasury yield on Thursday reached its highest in 10 months, underpinned by fears that U.S. interest rates might stay higher for longer, contributing, along with China's economic woes, to world stocks languishing at five-week lows. Benchmark 10-year yields reached 4.312%, testing October's 4.338%, a break past which would be its highest since 2007.

The “starting universe” for JSEG and JSEU will be the MSCI World index and MSCI USA Index, respectively.

Hemang Jani, market expert, says “from a short-term perspective, the power and ancillary sector could give 5%, 10% up move but one should not really consider proper long-term investment in these stocks because when they go out of flavour, then one might see a little bit of subdued movement for an extended period of time.”Do the power or ancillary stocks interest you right now?From a short-term technical perspective, because of the MSCI rebalance where you will see incremental flows coming into the name like PFC, REC and also the fact that GQG came in and picked up some stake in Adani Power could create some more momentum for the Adani Group company and generally for the midcap utility companies. So, from a short-term perspective, that sector could give some momentum – maybe 5%, 10% up move — but I do not think that one should really consider proper long-term investment in these stocks because when it goes out of flavour, then one might see a little bit of subdued movement for an extended period of time.Do you track this Alkem?It is a very steady kind of a company and the numbers were pretty much in line.

MSCI's broadest index of Asia-Pacific shares outside Japan slid to 495.03, its lowest since Nov. 29. It was last down 1.14% at 497.11, with the index down 8% for August and set for its worst monthly performance since September.

IndiGo co-founder Rakesh Gangwal has sold partial stake in the budget carrier through bulk deals on Wednesday.Sobha Gangwal, wife of Rakesh Gangwal, has offloaded 1.15 crore shares or 2.99% stake in the company at a weighted average price of Rs 2,426, which is about 5% discount from Monday's close. Through the sale, the family earned nearly Rs 2,800 crore. Rakesh Gangwal and his wife, Shobha Gangwal, held about 13.23% and 2.99%, respectively, in IndiGo at the end of June quarter, while their Chinkerpoo Family Trust holds a 13.5% stake, according to exchange data.

By Harry Robertson and Kane Wu

banking system have been triggering the recent selloff in the Chinese markets. Worries surfaced over likely deflationary pressures threatening to undermine corporate profits and reduced potential returns.

InterGlobe Aviation shares tanked 4.6% in trade on Wednesday as IndiGo co-founder Rakesh Gangwal offloaded 5.1% or around two crore shares in a block deal in early trade. The floor price for the offer was presumed to be set at Rs 2,400 apiece, which would come in at a 5.8% discount to Monday’s closing price of Rs 2,549. 

In total, MSCI has invested an aggregate of $913m to acquire Burgiss.

By Dhara Ranasinghe

The executive order regulates US investments in China in sensitive technologies. Investors, advisers and an administration official said it is tailored around national security and reflects months of consultations with industry and other stakeholders. Even so, the order, while narrow in scope as expected, is unprecedented.

By Wayne Cole

MSCI has added eight Indian stocks to its Global Standard Index and removed one as part of its quarterly index review. The changes will likely result in an inflow of nearly $1.4 billion from foreign passive funds when the actual changes take place on August 31. A release by MSCI on Friday said it had added HDFC Asset Management, IDFC First Bank, Ashok Leyland, Astral, Cummins India Kirloskar, REC, Power Finance Corporation, and Supreme Industries to its Global Standard Index and removed ACC.

Supreme Industries, REC and Ashok Leyland jumped on Friday after the announcement that they along with five other firms will be added to the MSCI India Index. The changes in constituents of the MSCI Global Standard Indexes will take place as of close of August 31, 2023, according to an announcement by index compiler MSCI on Thursday.

Stock market today: Supreme Industries shares are one of the multibagger stocks that Indian stock market has produced in recent years. Supreme Industries share price has been in uptrend for the last one year. After making its bottom in July 2022 at around ₹1,770 apiece levels on NSE, this small-cap plastic company stock has remained an ideal ‘buy on dips’ stock for stock market bulls.

By Tom Westbrook

HDFC Asset Management Company, IDFC First Bank, Ashok Leyland and Power Finance Corporation Ltd. (PFC), are among the eight stocks that will be included in the MSCI Global Standard Index. The other stocks include REC Ltd, Cummins India, Supreme Industries and Astral, as part of the August Global Standard Index review, effective from September 1, 2023.

Indian stocks to its Global Standard index as part of quarterly index review, while removing one.HDFC Asset Management, IDFC First Bank, Ashok Leyland, Astral, Cummins India Kirloskar, REC, Power Finance Corporation, and Supreme Industries will enter the MSCI Global Standard index, effective August 31. ACC will be removed from the Global Standard index, the index aggregator said.

Federal Reserve's monetary policy path. The announcement of a U.S. ban on investments in sensitive technologies in the world's second-largest economy also weighed on sentiment.

Jefferies said the 'Goldilocks position' for Indian equities is getting questioned with crude rallying, China gaining some traction, rising consumer inflation and yields moving up. With foreign portfolio investors turning net sellers and India underperforming the MSCI Emerging Markets index in the last one month, the near-term appears weak. In a Goldilocks situation, an economy sees a mix of steady growth and low inflation.