HDFC Bank gains as MSCI changes become effective

Written by Reuters | Mumbai | Updated: Jun 2 2014, 16:20pm hrs
Shares in HDFC Bank gain 1.2 percent, while Hindustan Unilever falls 2.2 percent, as changes by MSCI to its global indices became effective after the close of markets on Friday.

HDFC Bank, whose weighting was cut, rose 2.4 percent since the announcement on May 14 as of Friday's close, under-performing a 4.4 percent gain in the NSE bank index.

Hindustan Unilever, whose weighting was increased, rose 4.5 percent since the announcement, as of Friday's close, compared with a fall of 3.2 percent in the industry-sub index.

Aurobindo Pharma Ltd, the lone addition to the MSCI India index in the May review, which rose 8.9 percent since then, is also down 4 percent.