Monday, May 11, 2020
Stocks such as Shree Cement and Asian Paints, which climbed lately on expectations of increased inflow of passive overseas funds, could lose steam after index provider FTSE Russell postponed until September the decision to increase India’s weight in its global indices due to the COVID-19-induced lockdown. The proposed changes were scheduled to be made in June.
About $2 billion was expected to flow in after the rebalancing. Among others, Larsen & Toubro, Bajaj Finance, Stocks such as Shree Cement and Asian Paints, which climbed lately on expectations of increased inflow of passive overseas funds, could lose steam after this.
