Four Indian stocks added, four excluded from key global index in MSCI's May rejig

Adani Energy Solutions

13/05/2026 07:19

By Bharath Rajeswaran

May 13 (Reuters) - Global index provider MSCI added four Indian stocks and removed four from its widely tracked Global Standard Index in its latest periodic review, announced earlier on Wednesday, with the changes set to take effect on May 29, 2026.

Federal Bank FED.NS, Multi Commodity Exchange of India MCEI.NS, National Aluminium NALU.NS and Indian Bank INBA.NS will enter the index, while Hyundai Motor India HYUN.NS, Jubilant Foodworks JUBI.NS, Kalyan Jewellers KALN.NS and Rail Vikas Nigam RAIV.NS will be excluded.

India's weight in the MSCI Global Standard Index remains broadly steady at 12.3%, compared with 12.4% after the February review, while the number of Indian constituents is unchanged at 165.

Adani Energy Solutions ADAI.NS, initially seen as a provisional addition, has been left out after being placed under the NSE's additional surveillance mechanism framework, a watchlist for unusual trading activity that makes the stock ineligible for inclusion.

MSCI indexes are key global benchmarks tracked by large passive funds, making index changes a significant driver of stock-specific flows.

Inclusions typically attract fresh passive capital, while deletions often trigger outflows as funds rebalance portfolios.

Nuvama Quantitative and Alternative Research expects passive inflows of $491 million into Federal Bank, $373 million into MCX, $308 million into National Aluminium and $209 million into Indian Bank.

On the other side, Hyundai Motor India, Jubilant Foodworks, Kalyan Jewellers and Rail Vikas Nigam are projected to see outflows of $281 million, $161 million, $137 million and $136 million, respectively.

Adani Power ADAN.NS, BPCL BPCL.NS, FSN E-Commerce FSNE.NS, Trent TREN.NS and Oracle Financial Services ORCL.NS are also expected to draw inflows due to higher weightages, while weights for HUL HLL.NS, Bajaj Finance BJFN.NS, TCS TCS.NS, ONGC ONGC.NS and Ultratech Cement ULTC.NS, among others, were trimmed.

While the Global Standard Index saw balanced additions and deletions, MSCI's small-cap index had heavier exclusions, reducing India's small-cap count to 459 from 474.

MSCI adds four Indian stocks, removes four from its Global Standard Index https://reut.rs/4u7NU9Z

Weightages of five Indian stocks raised in MSCI Global Standard Index https://reut.rs/3Pj88yc

Fourteen Indian stocks have been added to MSCI Small Cap Index https://reut.rs/3Pp9lUG

Major deletions of Indian stocks from MSCI Small Cap Index https://reut.rs/49MCFvl

 (Reporting by Bharath Rajeswaran in Bengaluru; Editing by Ronojoy Mazumdar)

 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))