The MSCI (Morgan Stanley Capital International) Index , has been revised. As part of this review, the MSCI announced its portfolio changes to the MSCI India index last night wherein the Global index compiler (MSCI) added eight stocks in the index, while decided to eliminate as many as six counters.
MSCI added DLF, Berger Paints, HDFC AMC, ICICI Prudential Life Insurance Company, Info Edge (India), Indraprastha Gas, Siemens and SBI Life Insurance to its portfolio. On the contrary, it has decided to remove Bharat Heavy Electrical Ltd, Indiabulls Housing-Finance, Glenmark Pharmaceuticals, Vodafone Idea, IL&T Finance Holdings, and YES Bank from the index. The effective changes will come into force on 26-Nov.
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With this rejig, the major stock rise was seen in DLF shares, which was trading higher by 7% in Friday’s session. Further, the DLF reported a net profit for the quarter was up 19% year-on-year.
Further, the Central govt, LIC and SBI have been providing Rs.25,000-Cr worth of Alternative Investment Fund to boost the realty sector. With all these steps, realty shares have been trading positively since the last few sessions.
At the mid-noon 12.00 Hrs. shares of DLF traded up 7.06% at Rs.206.10-per share on Friday. Meantime, the Sensex stood at 40,563, down by 90 points and the Nifty traded at 11979-level, down by 33 points in trade.
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