Home Market FTSE set to raise India’s EM weightage to 12.21%

FTSE set to raise India’s EM weightage to 12.21%

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NEW DELHI: India's weightage in FTSE Emerging Markets is set to rise to 12.21 per cent from 12.16 per cent, ET Now has reported.

According to ET Now, L&T Infotech, Bajaj Holdings and Bandhan Bank have been added to the index. ICICI Prudential life and Petronet LNG have also been added to the index.

Reliance Communications, CG Power and GE Shipping are stocks that have been excluded from the index. The changes will be effective at close of September 21, ET Now reported.

L&T Infotech was trading 0.84 per cent higher to Rs 1,858.70 on BSE. Bajaj Holdings was up 1.10 per cent at Rs 2,996.75. Bandhan Bank gained 2.14 per cent to Rs 688.60. Petronet LNG inched up 0.93 per cent to Rs 234.40 while ICICI Prudential gained 2.51 per cent to Rs 383.70.

RCom fell 2 per cent on index exclusion, but GE Shipping and CG Power rose up to 2 per cent.

As of July 31, there were 10,44 constituents of the index, the index factsheet suggests. Out of them, 139 stocks were from India. Stocks such as Reliance Industries and HDFC were among top 10 stocks of the index in terms of weightage.

FTSE Emerging Markets indices are part of the FTSE Global Equity Index Series (GEIS). The FTSE Emerging Index provides investors with a means of measuring the performance of the most liquid companies in the emerging markets, the factsheet suggests.

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