India's PNB Gilts up after Bloomberg to add Indian bonds to EM indexes

PNB Gilts

05/03/2024 10:29

** Shares of PNB Gilts  PNBG.NS  settled 10.3% higher at
120.4 rupees 
    ** Rise after Bloomberg Index Services says it will include
in its emerging market local currency index 34 Indian govt bonds
eligible for investment via the country's fully accessible route
    ** Inclusion of the bonds will be phased in over a 10-month
period starting from Jan 31, 2025
    ** Stock had its best day since early Jan, when the index
service provider proposed to include eligible domestic bonds in
the emerging market local currency index
    ** PNBG, the only listed primary dealer in government
securities, is likely see more inflows due to bond market
inclusion
    ** Stock up 24% YTD, after a 51.8% rise in 2023 
   
    

 (Reporting by Rama Venkat and Bharath Rajeswaran in Bengaluru)
 ((ramavenkat.raman@thomsonreuters.com; https://twitter.com/ramavenkat0607;))