New Delhi: The MSCI (Morgan Stanley Capital International) Global Standard Indices will see the deletion of Axis Bank Ltd. with effect from 2 September 2013.
The deletion from MSCI’s standard and large cap indexes is pursuant to Thursday’s announcement and part of its quarterly index review.
Reacting to the news of its deletion, shares of Axis Bank plunged 8.23% to close at Rs1,055.40 on the BSE. In intra-day trade, the stock had lost 8.69% to Rs1,050.
The index provider has added Mahindra and Mahindra Financial Services Ltd. to its India index, effective from close of 30 August, as per a statement dated 14 August.
Shares of Mahindra and Mahindra Financial Services ended flat 0.06% lower at Rs254.7.
MSCI is a leading provider of benchmark indices globally.