As part of its quarterly index review, the index provider MSCI announced last week that two Adani-group firms would not be eligible for its global indexes. In addition, 86 stocks will be added to and 39 will be removed from the widely watched MSCI ACWI stock index. Following comments from investors over the lack of FX liquidity in the nation, MSCI stated earlier in the week that it will “apply a special treatment” to Egyptian equities featured in its indexes. This means that it would not “implement any changes as part of upcoming index reviews.”
It was announced on Thursday that this assessment will not change for securities from Bangladesh, Kenya, Nigeria, or Sri Lanka. The American firms Deckers Outdoor Corp., Lattice Semiconductor, and Builders Firstsource will be the biggest entrants to the MSCI ACWI stock index. Jinko Solar, Xinjiang Daqo New Energy, and Beijing-Shanghai High Speed Railway will be the three biggest additions to its emerging markets index.
Last week, MSCI announced that it would reduce the free float of two Adani Group companies in India, Adani Total Gas and Adani Transmission. On Thursday, the company announced that it would no longer be eligible for inclusion in the MSCI global investable market indices. According to MSCI, the adjustments will take effect at the end of May.
