Latest news with #MSCIIndex
News18
4 days ago
- Business
- News18
Vishal Mega Mart To Join FTSE Global Mid Cap Index On June 20
Vishal Mega Mart is set to be included in the FTSE Global Mid Cap Index on June 20, following a significant promoter stake sale Vishal Mega Mart Vishal Mega Mart is set to be included in the FTSE Global Mid Cap Index on June 20, following a significant promoter stake sale earlier this week. According to estimates by Nuvama Alternative, the index inclusion could lead to passive inflows of around \$115 million. The company is also seen as a strong contender for inclusion in the MSCI Index during its upcoming August 2025 review. Nuvama projects that such a move could attract additional inflows of approximately \$225 million, with the official MSCI announcement expected on August 8. 'Following the 20% promoter stake sale, MSCI is expected to revise Vishal Mega Mart's free float upwards, increasing the likelihood of its inclusion in the August review," said Abhilash Pagaria, Head of Nuvama Alternative & Quantitative Research. Currently, Vishal Mega Mart is already part of the FTSE Russell Universe. Earlier this week, promoter entity Samayat Services LLP offloaded shares worth Rs 10,220.4 crore through a bulk deal on the NSE. The sale involved 90 crore shares at Rs 113.6 per share, representing a 19.6% stake. As of March 31, Samayat Services held a 74.6% stake in the company. Following the deal, Vishal Mega Mart shares fell 3.2% on Wednesday to close at Rs 122.7. Stake sales by promoters typically increase a stock's free float, thereby enhancing its eligibility for inclusion or weight increase in global indices like MSCI and FTSE. Once a stock is added to such indices, passive investment vehicles such as ETFs that track the benchmarks are obligated to buy the stock accordingly. First Published: June 19, 2025, 07:36 IST
Time of India
4 days ago
- Business
- Time of India
Vishal Mega Mart set to join FTSE Global Mid Cap Index on June 20
Mumbai: Vishal Mega Mart is set to be included in the FTSE Global Mid Cap Index on June 20, following the stake sale by promoters earlier this week. The inclusion could lead to inflows of around $115 million, according to Nuvama Alternative estimates. Nuvama expects Vishal Mega to be a strong contender for inclusion in the MSCI Index in August, which could lead to inflows of around $225 million. The announcement is expected on August 8. Agencies "Following the 20% promoter stake sale , MSCI is expected to revise the free float upwards, increasing the likelihood of the stock's inclusion in the MSCI August 2025 review," said Abhilash Pagaria, head of Nuvama Alternative. Currently, Vishal Mega is a part of the FTSE Russell Universe. Samayat Services sold shares of Vishal Mega Mart worth ₹10,220.4 crore in a bulk deal on NSE on Tuesday. The promoter group entity sold 90 crore shares at ₹113.6 apiece, representing 19.6% of the company's total equity. As of March 31, Samayat Services LLP owned a 74.6% stake in the company. The stock fell 3.2% on Wednesday to close at ₹122.7. Promoter stake sales increase a stock's free float, making it eligible for inclusion or a higher weight in global indices like MSCI and FTSE. When a stock is brought into global indices, passive funds like ETFs, whose portfolios mimic these benchmarks, must purchase the shares in line with the revamp. Live Events In the last month, Vishal Mega Mart shares shed 2.4% while the Nifty Midcap 100 Index gained 1.8% in the same period.
Trade Arabia
03-06-2025
- Business
- Trade Arabia
Adnoc Gas joins MSCI Emerging Market Index
Adnoc Gas will be the largest addition to the Index by market capitalisation and joins Adnoc Distribution and Adnoc Drilling which were added to the benchmark in 2021 and 2024, respectively. The company's inclusion follows its successful $2.84 billion marketed offering of 3.1 billion shares in February, which increased the number of shares available to the public by 80% and helped the stock successfully meet key eligibility criteria for entry into the Index. This marks a significant milestone in the Adnoc Gas's ongoing efforts to enhance its global investment profile, attract a broader and more diversified investor base and improve liquidity of its shares. Through their inclusion in the MSCI Index, the three Adnoc Group companies collectively raise both Adnoc's and the Abu Dhabi Securities Exchange's (ADX) global investment profile, while enhancing liquidity in the UAE market and further cementing the UAE's position as an attractive destination for foreign investment. As with Adnoc Distribution and Adnoc Drilling's addition to the Index, Adnoc Gas experienced a surge in trading on the final day before its index inclusion, attracting $469 million in capital inflows. The inclusion of Adnoc Gas in the Index also marks another milestone in Adnoc's efforts to foster growth of the UAE's capital market, which began in 2017 with the public listing of Adnoc Distribution on the ADX. Since then, Adnoc has brought another five of its subsidiaries to the public market, with a current combined market cap of around $140 billion.
Bloomberg
30-05-2025
- Business
- Bloomberg
S&P 500 Declines With Renewed Trade Tensions Dampening Sentiment
US stocks fell on Friday as President Donald Trump accused China of violating an agreement with the US to ease tariffs, renewing tensions between the White House and Beijing. The S&P 500 Index declined 0.4% as of 9:34 a.m. in New York, as the technology-heavy Nasdaq 100 Index also fell 0.4%. MSCI Index rebalancing and month-end flows are poised to amplify an already volatile session for US stocks.
Mint
29-04-2025
- Business
- Mint
Emerging Markets Stocks Rally as Trade Talks Boost Sentiment
(Bloomberg) -- Stocks in developing nations climbed on Monday, with the index closing at its highest in three weeks, as sentiment over trade talks between the US and its partners improved. The gauge gained 0.5%, finishing the day at the highest level since President Donald Trump presented his reciprocal tariffs on April 2. The MSCI Index leaped 2.7% last week. 'Positive comments by US Treasury Secretary Scott Bessent about trade deals coming from the US is offering EM assets support,' said Elias Haddad, a strategist at Brown Brothers Harriman & Co. Monday's gains also put the EM stocks index above its 200-day moving average. If the gauge ends April with an advance, that would mark a gain in each of the first four months of a year — a feat last achieved in 2019. Earnings estimates for the gauge have risen 0.8% this month, the most since August. For Michael Brown, a senior research strategist at Pepperstone Group Ltd, the recent EM rally has been largely driven by the broad 'sell America' trade amid policy uncertainty from Trump. Those countries that reach trade deals with the US — which result in a permanent lowering of tariffs — are likely to outperform peers. Meanwhile, in the foreign exchange market currencies were mostly up. The MSCI currency index rose just 0.08% amid a sinking dollar, which fell over 0.5% during the trading session. The South African rand and the Hungarian forint led the gains in the emerging basket, while the Chilean peso lagged its peers, down as much as 1.1%. Earlier, assets in Colombia dropped after the International Monetary Fund paused access to an $8.1 billion flexible credit line. The country's peso plunged as much as 0.9% while its dollar bonds fell across the curve, with notes maturing in 2035 down 1 cent to about 100 cents on the dollar. The peso closed little changed. Hopes have grown that the worst of the US tariff threat may be passing after Treasury Secretary Scott Bessent said last week that the US and South Korea could reach an 'agreement of understanding' on trade as soon as this week. Bessent said Sunday that negotiations with some trading partners 'are moving along very well, especially with the Asian countries.' Traders this week will also be watching for key US data including growth and a gauge of inflation to assess if Trump's trade war has begun to affect the economy. Meanwhile, Chinese officials Monday reiterated a pledge to aid growth ahead of the release of factory activity data later this week. 'Overall we expect US data to show signs of a cooling labor market, but not falling off a cliff,' said Dan Pan, an economist at Standard Chartered Bank. On Monday, Angola's bonds rallied for some of the biggest gains in emerging markets. The country held talks with the International Monetary Fund last week about possible financing packages, its finance minister said, after trade wars and a slump in energy prices effectively shut the oil producer out of international bond markets. Bulgaria tapped international markets, selling Eurobonds for the first time this year. The country is issuing a total of €4 billion ($4.5 billion) in bonds, its biggest ever haul of euro-denominated debt in a single day, to fund its growing budget deficit in preparation for euro adoption. --With assistance from Michael G. Wilson. More stories like this are available on First Published: 29 Apr 2025, 05:39 AM IST
