Domestic equity markets began Friday’s trading session flat. S&P BSE Sensex was seen dancing between gains and losses during the early hours of trading while Nifty 50 reached 14,600 only to slip minutes after the opening bell. Bharti Airtel’s share price zoomed 5%, followed by Titan and NTPC making them the top Sensex gainers. Asian Paints, Domestic equity IndusInd Bank were the top laggards. Broader markets were outperforming the benchmark indices.
Global index provider, MSCI (Morgan Stanley Capital International) on Friday said that it will announce the changes to Bharti Airtel’s weightage as part of its February review. The move comes after changes were made to Bharti Airtel’s foreign ownership limit earlier this month by NSDL. The telecom major so far had 49% foreign investment limit,
which has now been changed to 100%. “The proforma FOL and upward movement of the adjustment factor due to foreign room will be implemented as part of the upcoming February 2021 Quarterly Index Review,” MSCI said. So far this week, shares of Bharti Airtel have jumped 7.3%