SBI Life touched a life-time high of Rs 1,030 per share on October 30, 2019, while ICICI Pru Life hit a record high on November 8, 2019.
The changes will come into effect from November 26 post market hours, the report added.
Most of these companies have seen a sharp erosion in their market values in the wake of the yearlong crisis in India's credit market
Inflows into exchange-traded funds accelerated this year as the MSCI upgrade approached, and have continued since May 28
At the stock level, three companies - GAIL, ITC and L&T would account for almost two-thirds of the likely outflows
13 additions and 37 deletions to the MSCI India Smallcap Index have also been announced
Indian exchanges in a joint statement had announced that they would stop providing market data to any index provider for creation of indices
Strong market performance along with good IPO pipeline could help India improve its share