HDFC Bank falls, Zee Entertainment gains on MSCI rejig
Mumbai: Shares of HDFC Bank, Reliance Capital and Reliance Power fell up to three per cent after the MSCI removed these stocks from its India index.
HDFC Bank fell by two per cent to Rs. 894, while Reliance Power lost 2.6 per cent to Rs. 74.65 and Reliance Capital went down by 2.47 per cent to Rs. 470.60 on the BSE.
The other stock which has been excluded from the MSCI India index is Jaiprakash Associates and it was trading flat.
MSCI has added Zee Entertainment and Motherson Sumi Systems to its India index. Shares of Zee Entertainment rose by four per cent to touch its 52-week high of Rs. 369, while Motherson gained 3.23 per cent to Rs. 440.
All the above changes to the MSCI India index will be effective from November 25.
MSCI, a leading provider of benchmark indices globally, announced the following changes in constituents for the MSCI Global Standard Indexes yesterday.