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Shares of several India-listed companies rallied in trade after their inclusion in FTSE Russell’s indices.
The revision announcement was done on June 20, with the flows expected to commence from June 23.
FTSE stands for Financial Times Stock Exchange. It's a group of stock market indices owned by FTSE Russell, a subsidiary of the London Stock Exchange Group.
Stocks on the FTSE radar: Hyundai Motor India, Swiggy, Waaree Energies, NTPC Green Energy, Sai Life Sciences, Vishal MegaMart, Afcons Infrastructure, OneSource Specialty Pharma & Inventurus Knowledge.
The why: inclusion or increase in the weightage of the stock in global indices leads to inflows from passive funds which track that particular index. Conversely, exclusion from FTSE or any other global indices leads to outflows.
What’s in-store for the investors?
Being added to a global index like FTSE means more big investors and funds around the world will notice and invest in the stock. It also makes the stock easier to trade and shows that the company is strong and trusted in the market.
💰 FTSE REJIG: Est Inflows ($ M)
- Vishal Mega Mart - $115M
- Hyundai - $56M
- Waaree Energies - $49M
- Swiggy - $32M
