MSCI May rejig: Federal Bank, MCX, Nalco, Indian Bank in; Hyundai India, Jubilant, Kalyan, RVNL out

MSCI's May 2026 review adds four Indian names to its Global Standard Index and drops four, with changes effective May 29. Federal Bank leads passive inflows at $491M, followed by MCX ($373M) and Nalco ($308M). Hyundai India faces $281M outflow; Jubilant Foodworks and Kalyan Jewellers exit with $161M and $137M outflows. India weight slips marginally to 12.3% from 12.4%; Adani Energy Solutions excluded on NSE surveillance.

— FiledWed, 13 May, 2026, 12:55 IST·First seen Wed, 13 May, 2026, 12:54 IST·Source The Hindu BusinessLine

What happened

MSCI Global Standard Index · MSCI's May review adds Federal Bank, MCX, Nalco and Indian Bank to Global Standard Index; removes Hyundai India, Jubilant

Key facts

  • 4 added
  • 4 excluded
  • effective May 29 2026
  • India weight 12.3%
  • prev 12.4%
  • 165 constituents
  • Federal Bank $491M inflow
  • MCX $373M inflow
  • National Aluminium $308M inflow
  • Indian Bank $209M inflow
  • Hyundai $281M outflow
  • Jubilant $161M outflow
  • Kalyan $137M outflow
  • RVNL $136M outflow
  • small-cap 459 vs 474

Why this matters

Index inclusion lowers cost of capital and broadens the shareholder base for the four entrants while exits (notably Kalyan and Jubilant in consumer retail) raise the bar for equity-funded M&A and strategic signalling.