Adani group shares take a beating after MSCI index adjusts weight

MSCI published additions and deletions to its global indexes last month but the announcement didn't detail changes to the weightings of individual stocks in its indexes

Some shares that are part of billionaire Gautam Adani’s conglomerate took a beating on Tuesday as investors adjusted their holdings to reflect changes in the composition and weighings in the MSCI India Index, according to an analyst who publishes at Smartkarma.

Adani Green Energy Ltd., the group’s biggest firm by market value, led the rout, plunging a record 12% in trading volume about nine times the average of the past three months. Adani Total Gas Ltd. Adani Transmission Ltd. and Adani Power Ltd. fell by at least 5% each. Most of these stocks extended losses in early Mumbai trading on