Indus Tower, HDFC Life, Bharti Airtel mixed post-MSCI rejig

NEW DELHI: Index provider MSCI in its quarterly review raised the weightages of a few stocks including Bharti Airtel, Indus Tower and HDFC Life in its MSCI Standard Index. The changes would be effective from March 1.

As per ET NOW, the stocks which have seen an increase in weightages included Indus Tower, Bharti Airtel, HDFC Life and ICICI Lombard. Analysts noted that the changes were much in line with expectations. There is no new addition or reduction.

Bharti Airtel is seen as the biggest gainer, followed by Indus Tower, HDFC Life and ICICI Lombard. In all, these scrips are expected to see inflows to the tune of $20-540 million due to the index rejig.

At 10:20 am, Indus Tower was trading 3.41 per cent lower at Rs 245.10. Bharti Airtel was down 1.46 per cent at Rs 590.05. ICICI Lombard declined 2.58 per cent to Rs 1477.85 while HDFC Life was trading 1.4 per cent higher at Rs 714.60.

Minor selling is seen in Reliance Industries, Infosys, TCS, HDFC and ICICI Bank, analysts said.

Reliance Industries fell 0.6 per cent to Rs 1,944. Infosys declined 1.09 per cent to Rs 1290.80. HDFC edged up 0.3 per cent while ICICI Bank declined 0.42 per cent.