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MSCI Inclusion Impact: NMDC, Union Bank, BHEL Witness Morning Decline Amidst Market Profit-Booking

13 Feb 2024 , 02:50 PM

NMDC, Union Bank, and BHEL experienced a decline in morning trade on February 13 despite inclusion in the MSCI Global Standard Index. Over the past three months, these stocks rallied, meeting the criteria for MSCI inclusion.

Profit-booking occurred after MSCI announced the final results, attributed to subdued market sentiment in the last three sessions. The BSE PSU index witnessed a substantial decline, wiping off ₹6.4 Lakh Crore in market capitalization over the last three days.

At the time of writing, NMDC, Union Bank, and BHEL were trading at ₹226.80 (-1.48%), ₹137.05 (-1.93%), and ₹211.90 (-2.15%) respectively.

Newly added companies showed gains in the range of 25% to 57% over the last three months. MSCI revealed 27 additions and six deletions from the Small Cap index, with companies like Honasa Consumer and IREDA among the additions.

Indian additions to the Small Cap Index include Balmer Lawrie, Banco Products, Cello World, Cyient DLM, DB Realty, Dhanuka Agri, and Ethos.

For feedback and suggestions, write to us at editorial@iifl.com


Related Tags

  • BHEL
  • MSCI
  • NMDC
  • Union Bank
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