Monday, May 14, 2018

Avenue Supermarts, IndiGo gain on inclusion in MSCI index


Avenue Supermarts, which operates the chain of stores, and InterGlobe Aviation, the company that operates are trading higher by up to 5% after these stocks along with 32 other scrips were included in the MSCI India Domestic and MSCI India Domestic Small Cap Index with effect from June 1, 2018. Total 18 stocks were deleted from these indices.
Avenue Supermarts, Biocon, and were included in the MSCI India Domestic Index, which will take place as of the close of May 31, 2018, MSCI said in a press release. IDFC Bank, and were deleted from the index.
has surged 6% to Rs 1,517, while rallied 5% to Rs 1,249 on the in intra-day trade.
Inclusion in the MSCI indices is usually an indication that the stocks will catch foreign fund managers' attention. Foreign active funds and exchange-traded funds, which track the MSCI indices, are likely to buy or sell shares of the companies included or excluded from these indices.

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