MSCI May 2024 rejig: JSW Energy, Canara Bank among 13 additions; Paytm, Berger Paints among 3 exclusions
MSCI May 2024 rejig: In its May 2024 review, MSCI has added 13 stocks, including Canara Bank, JSW Energy, NHPC, Indus Towers, and Phoenix Mills, to its Global Standard Index, according to data provided by Nuvama Alternative and Quantitative Research. PB Fintech, Sundaram Finance, Bosch, Jindal Stainless, Solar Industries, Torrent Power, Mankind Pharma and Thermax were the other stocks that were included in the index. This inclusion signals healthy capital inflow into their shares.
On the other hand, Berger Paints, Indraprastha Gas and Paytm are the three stocks that have been excluded from the index. Also Read: Stocks to Watch: Siemens, Cipla, Airtel, Mankind, Patanjali Foods, BASF India MSCI (Morgan Stanley Capital International) is a leading provider of equity, fixed-income, and hedge fund indices globally. It periodically reviews and adjusts the constituents of its indices.
The MSCI Global Standard Index is a widely recognised benchmark for global equity markets. Several institutional investors, including mutual funds, exchange-traded funds (ETFs), and pension funds, use it to track the performance of their investments. Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — May 15 Besides, YES Bank, Zomato, Vedanta, AU Small Finance Bank, Macrotech Developers (Lodha), Polycab India, Samvardhana Motherson, and Suzlon Energy have seen their weight increase in the index.
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