Indian stock market likely to see $2 billion worth inflows on MSCI Index rebalancing today

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PB Fintech, Sundaram Finance, NHPC, Phoenix Mills, Indus Towers, Bosch, Jindal Stainless, Solar Industries, Torrent Power, Mankind Pharma, JSW Energy, Canara Bank and Thermax in the MSCI Global Standard Index. Read here: MSCI May 2024 rejig: JSW Energy, Canara Bank among 13 additions; Paytm, Berger Paints among 3 exclusionsPB Fintech is estimated to receive the highest inflow worth approximately $283 million, followed by Sundaram Finance at $243 million, as per data by Nuvama Institutional Equities.Indus Towers, Phoenix Mills and NHPC are expected to see inflows in the range of $216 million - $234 million.On the other hand, the exclusions from the index include Berger Paints, Indraprastha Gas and One 97 Communications, the parent company of fintech giant Paytm.

These stocks are likely to witness outflows ranging between $70 million and $117 million.With 13 inclusions and 3 exclusions, the net stock count post-rejig will be 146 for India in the MSCI Standard/EM Index.Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — May 31Additionally, 28 stocks will enter in the MSCI India Smallcap Index and 14 stocks will exit from the index. Key new entrants include Aditya Birla Sun Life AMC, Puravankara, DOMS Industries, Vedanta Fashions, Gillette India, Juniper Hotels, RR Kabel, Greenlam Industries VA Tech Wabag, and Tips Industries.Stocks to be removed from the Smallcap index include Dreamfolks Services, Indoco Remedies, Borosil, Polyplex Corporation and Tatva Chintan Pharma, among others.India’s representation in the MSCI Emerging Markets Index is set to increase from the current 18.3% to closer to 19%.