FTSE rejig: $1.70 billion inflows likely on Friday; HDFC Bank to be top beneficiary

Inflows in HDFC Bank, ICICI Bank, and Sundaram Finance will be $511 million, $381 million, $149 million and $113 million, respectively. The other major beneficiaries will be ($62 million), ($37 million) and ($30 million).

Out of these, 17 stocks, including , Rail Vikas Nigam Limited (RVNL), , , , New India Assurance and will have inflows between $9 million and $1 million.

The outflows will be highest in ($42 million), ($38 million), Infoso ($25 million), Tata Motors DVR ($23 million), Titagarh Rail ($13 million), Bharti Airtel ($11 million), Axis Bank ($10 million) and Larsen & Toubro ($10 million) among others.

The report also calls Sensex's quarterly rejig a non-event, with some inflow coming into Maruti Suzuki and near negligible outflows in Larsen & Toubro (L&T).

As for Sensex, the highest inflows will be for Maruti Suzuki ($15 million), Tata Steel ($3.8 million), ICICI Bank ($2.2 million) and HDFC Bank ($1.9 million) while outflows will be in seven stocks namely LT ($23 million) and negligible in case of RIL, , TCS, State Bank of India, Hindustan Unilever (HUL) and Mahindra & Mahindra (M&M).

Ahead of the adjustment, HDFC Bank was trading Rs 1,454.05 on the NSE around 12 pm on Thursday notwithstanding a positive trade in Nifty and Bank Nifty. While the former was trading at 22,162.55, higher by 164.85 points or 0.75%, the latter was up by 149.85 points or 0.32% and trading at 47,131.15.

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