Maruti, Suzlon fall on MSCI rebalance; Bank of Baroda gains
The rebalancing of the MSCI will take place Thursday to implement the review announced on May 16. MSCI had announced the addition of oil and gas major Cairn India, public sector lender Bank of Baroda and Godrej Consumer Products to its global indices.
As a result of the rebalancing, Cairn India will see an inflow of $59 million. Godrej Consumer will witness an inflow of $52 million, while Bank of Baroda is likely to see an inflow of $41 million.
Shares of Bank of Baroda and Godrej Consumer traded higher, while Cairn India was down at 1 p.m.
Wind power major Suzlon Energy was deleted from the index. The stock traded with over 5% cut.
Maruti is likely to see an outflow of $37 million, while ITC is likely to witness an outflow of $14.2 million. Maruti fell over 3.5%, while ITC was down over 0.6%.
Disclaimer: The information in Street Smart is sourced from our television channel, NDTV Profit. It is based on the buzz in the stock market and on secondary information. Readers should use discretion before using the information.
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