Avenue Supermarts, IndiGo stocks gain on inclusion in MSCI index
The MSCI index serves as an important parameter for foreign investor’s decision. Morgan Stanley Capital International (MSCI) has set up MSCI India index wherein many prominent companies across sectors are included in this index.
Avenue Supermarts, Biocon, HDFC Standard Life Insurance and InterGlobe Aviation were included in the MSCI India Domestic Index, which will take place as of the close of May 31, 2018.
Also, First Source Graphite, IFB Industries, JSW Energy, Manpasand Beverages, V-Mart Retail and Venky’s has been added in MSCI India Index.
Meanwhile, IDFC Bank, Power Finance Corporation, Tata Motors DVR and Vakrangee were deleted from the index.
Avenue Supermarts and InterGlobe Aviation are trading higher by after these stocks along with 32 other scrips were included in the MSCI India Domestic and MSCI India Domestic Small Cap Index with effect from June 1, 2018. Total 18 stocks were deleted from these indices.
Stock reaction after additions and deletions:
Avenue Supermarts Ltd is currently trading at Rs1,492 up by Rs67.85 or 4.76% from its previous closing of Rs1,424.15 on the BSE.
Interglobe Aviation Ltd is currently trading at Rs1,225.30 up by Rs37.3 or 3.14% from its previous closing of Rs1,188 on the BSE.
V-Mart Retail Ltd is currently trading at Rs2,268 up by Rs149.1 or 7.04% from its previous closing of Rs2,118.90 on the BSE.
Tata Motors-DVR is currently trading at Rs184.55 down by Rs6.35 or 3.33% from its previous closing of Rs190.90 on the BSE.
Power Finance Corporation Ltd is currently trading at Rs78 down by Rs1.55 or 1.95% from its previous closing of Rs79.55 on the BSE.
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