MSCI India Index adds D-Mart, Interglobe, omits IDFC Bank, Vakrangee

International barometer that measures the performance of Indian stocks, the MSCI India Index has reshuffled the stocks it tracks post its periodic review. The new additions include Avenue Supermarts, and Interglobe Aviation, while deletions include IDFC Bank and Vakrangee.

The MSCI India Index covers the performance of the large and mid-cap segments of the Indian equity market. The index constitutes 79 stocks, which represent approximately 85 per cent of the equity market in India.

Post its review, Avenue Supermarts, Biocon, InterGlobe Aviation, Pidilite Industries and Power Grid were added, while ACC, IDFC Bank, Power Finance Corp, Tata Motors DVR and Vakrangee. The changes will be effective from May 31, 2018.

The top 10 stock on this index are HDFC, Reliance Industries, Infy, TCS, HUL, ITC, Maruti Suzuki, Axis Bank, ICICI Bank and L&T.

The MSCI India Index has witnessed net returns of 6.54 per cent in April 2018, while the returns for the 3-month and for the year as on April 30, 2018 was -1.73 per cent and 16.82 per cent, respectively.

Meanwhile, among the stocks that gained from this announcement were Avenue Supermarts quoting Rs. 1,484.80 per share, 4.26 per cent, InterGlobe Aviation was at Rs. 1,221.00 per share, 2.78 per cent, Power Grid was at Rs. 213.80 per share, up by 2.27 per cent at around 10:40 hours, on Tuesday.