India has surpassed China to become the top weight nation in the MSCI Emerging Market (EM) Investable Market Index (IMI) for the first time.
Indian equities together carry a weighting of 22.27 per cent in the index, edging ahead of Chinese stocks, whose combined weight now has fallen to 21.58 per cent.
This shift comes despite China's market capitalisation of $8.14 trillion being over 60 per cent greater than India's $5.03 trillion, according to Bloomberg data.
Though assets tracking the MSCI EM IMI, an offshoot of the main MSCI EM index followed by funds managing approximately $500 billion in assets, are not known, US brokerage Morgan Stanley highlighted that India's position as the top weight in the index is likely to attract additional foreign capital into Indian firms.
This story is from the September 06, 2024 edition of Business Standard.
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This story is from the September 06, 2024 edition of Business Standard.
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