MSCI Rejig: 14 stocks including Fusion Micro, IRCON Intl enter Global Smallcap index; 9 exit

MSCI Inc has announced changes to its Global Smallcap index, where 14 Indian stocks will enter while nine will exit the index on May 31. The changes will include Anupam Rasayan, KFin Technologies and NMDC Steel. The inclusion of Hindustan Aeronautics and Sona BLW Precision Wiring to the MSCI India Domestic index is set to result in net passive inflows of around $31m while exclusion of the stocks of Adani Group and Indus Towers is likely to result in a net outflow of about $471m, according to Nuvama Alternative and Quantitative Research.