 "Here are five new stock market entrants that will see $105 mn in FPI flows")
Shares of five newly-listed companies will get added to the FTSE global indices. The adjustment, which will take place on Friday, will result in a cumulative $105 million of foreign portfolio investor (FPI) flow into the domestic market, said analysts. This is because passive funds tracking the FTSE indices will have to buy these stocks after their inclusion in the FTSE indices.
The five stocks include PB Fintech (estimated passive buying of $41 million or 4.58 mn shares); Start Health ($19 mn/2.19 mn shares), Nykaa ($30 mn/1.57 mn shares), Paytm ($18 mn/2.44 mn shares) and Adani Wilmar ($38 million/4.17 mns shares).
These five had launched their IPOs between November 2021 and January 2022.
The FTSE rebalancing was part of the June 2022 quarterly review. The changes were announced earlier and the changes will be effective now.
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