FTSE global equity index rebalances changes

FTSE Global Equity Index rebalances positive changes for Tech Mahindra, Mindtree, Bharti Infratel, Axis Bank, Dabur and negative changes for Tata Power, PNB

  • Tech Mahindra moved to large-cap Index from mid-cap Index.

  • Raises Mindtree’s investment weightage to 81% from 68%.

  • Raises Bharti Infra’s investment weightage to 11% from 9%.

  • Raises Axis Bank’s investment weightage to 62% from 49%.

  • Reliance Power, Tata Power moved to mid-cap Index from large-cap Index.

  • PNB, PFC moved to mid-cap Index from large-cap Index.

  • United Spirits, Dabur moved to large-cap Index from mid-cap Index.

The changes will be effective after the close of business on March 21, 2014 (i.e. March 24, 2014), reports added.

An increase in investability weightage of a stock in global benchmark indices such as FTSE, prompts buying from passive trackers of the FTSE indices.

FTSE, which is a part of the London Stock Exchange Group, is a world-leader in providing global index and analytical solutions. FTSE indices are used extensively by a range of investors such as consultants, asset owners, fund managers, investment banks, stock exchanges and brokers.