MSCI slightly increases India’s weighting in EM Index

Reuters Market Eye: Index compiler MSCI has increased India’s weightage in its Emerging Market Index to 6.40% from 6.33%, as per its August index review.

MSCI also increased the weightage of Housing Development Finance Corp’s in its MSCI India Index by 120 basis points to 7.4%.

MSCI reduced the weightage of Tata Consultancy Services, Infosys, Reliance Industries and Hindustan Unilever by 10 basis points each.

The index services provider has also removed Bombay Rayon Fashions, Mindtree, Nava Bharat Ventures and Time Technoplast from MSCI India index.

The changes of MSCI index review would be effective after close of market hours on 31 August.