June 16, 2023
admin
Rejig of FTSE to bring net inflow of $150-200 mn.
Global index services provider FTSE has rejiged its indices on Friday which could lead to a net inflow of $150-200 million into various stocks.
FTSE indices are widely tracked by global passive funds replicating their portfolios as per the stock weights of the indices. These funds buy or sell the stocks if the stocks’ weight in the index is increased or reduced.
Adani Enterprises, Reliance Industries, Wipro, Punjab National Bank, and Bajaj Finance, among others, are likely to see a fresh inflow of $20-70 million, according to an analysis by Nuvama Institutional Equities.
Adani Enterprises will likely see an inflow of $71 million, while Reliance Industries could get up to $68 million.
Wipro is expected to get $32 million whereas Punjab National Bank, Bajaj Finance, Varun Beverages, and Adani Transmission could see inflow of $20 million each. Infosys, HCL Tech, and Equitas Small Finance could see an outflow between $13 million and $34 million.
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