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On June 16, 2023, Global Index service provider FTSE is to rejig its indices which can lead to a net inflow of nearly around USD 200 million in various stocks.
Stocks that are included or excluded from the FTSE index as part of the rejig experience significant changes in trading volumes, investor interest, and potentially price movements as investment funds and traders adjust their portfolios to align with the revised index composition.
The share of four companies belonging to the Adani group, namely Adani Enterprises, Adani Transmission, Adani Green Energy, and Adani Ports would see inflow. Additionally, Reliance Industries, Wipro, and Bajaj Finance are expected to experience similar inflows due to a rejig by FTSE. These adjustments will take place today and would be effective from June 19, 2023.
Below are the stocks with top Inflows amid FTSE Index Rejig:
| Company Name | Inflows ( $ in Mn) | Shares (Mn) | CMP (Rs) | Share Price % Change |
| Adani Enterprises | 71 | 2.4 | 2517 | 1.2% |
| Reliance Industries | 68 | 2.3 | 2569 | 0.7% |
| Wipro | 32 | 6.5 | 386.2 | -0.7% |
| Punjab National Bank | 21 | 33.7 | 52 | 3.2% |
| Bajaj Finance | 20 | 0.2 | 77180 | 0.7% |
| Varun Beverages | 19 | 0.9 | 813.4 | -1.7% |
| Adani Transmission | 19 | 1.9 | 807.1 | -0.9% |
| Global Health | 13 | 1.9 | 662.55 | 1.9% |
| Piramal Pharma | 12 | 12.5 | 784 | 1.8% |
| Bharat Electronics | 12 | 8.8 | 125.9 | 3.2% |
| Godrej Properties | 8 | 0.5 | 1551.95 | -1.1% |
| Adani Green | 8 | 0.6 | 975 | 1.3% |
| Adani Ports | 7 | 0.8 | 748 | 1.2% |
| Solar Industries | 4 | 0.1 | 3838.3 | -0.2% |
| RHI Magnesita | 3 | 0.4 | 683.15 | 1.6% |
Furthermore, some stocks are expected to see outflow top three stocks on the list are Infosys, HCL Tech, and Equitas Small Finance Bank among others. Infosys can see an outflow of around USD 34 million while talking about HCL tech with USD 15 million.
Below are the stocks with top outflows amid FTSE Index rejig:
| Company Name | Outflows ( $ in Mn) | Shares (Mn) | CMP (Rs) | Share Price % Change |
| Infosys | 34 | 2.1 | 1288 | 0.1% |
| HCL Tech | 15 | 1.1 | 1145 | 0.2% |
| Equitas Small Finance Bank | 13 | 11.9 | 87.5 | 0.3% |
| TCS | 8 | 0.2 | 3184 | -1.0% |
| Hindustan Unilever | 5 | 0.2 | 2722 | 1.2% |
| Zomato | 4 | 4.9 | 74.8 | 0.4% |
| Asian Paints | 3 | 0.1 | 3309 | 0.4% |
| Larsen & Toubro | 3 | 0.1 | 2368 | 0.3% |
| ACC | 3 | 0.1 | 1857 | 0.4% |
| Axis Bank | 3 | 0.3 | 983 | 0.6% |
| Jindal Steel | 1 | 0.4 | 543 | 1.2% |
| Eclerx Services | 1 | 0 | 1652 | 1.2% |
| Sun Pharma Advance | 1 | 0.2 | 198 | 3.2% |
| Brookfield India | 0.1 | 0.03 | 266 | 0.2% |
Wipro, Punjab National Bank, and Varun Beverages are among the stocks that are currently part of the FTSE All Cap Index and are expected to experience an increase in their weightage. While stocks like Samvardhana Motherson, Godrej Properties, ONGC, Solar Industries, Adani Transmission, and Adani Enterprises, are expected to observe minor increases in their weightage.
Global passive funds closely track FTSE indices and replicate their portfolios based on the stock weights within the indices. As the weights of stocks in the indices are adjusted, these funds automatically buy or sell the corresponding stocks to align with the changes in the index composition.
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