MSCI Global Standard Index Adds Adani Energy, MCX In Latest Review

Global index provider MSCI has added Adani Energy Solutions, Federal Bank, Indian Bank, Multi Commodity Exchange of India (MCX), and National Aluminium Company (Nalco) to the MSCI Global Standard Index as part of its May 2026 index review.

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At the same time, Hyundai Motor India, Jubilant FoodWorks, Kalyan Jewellers, and Rail Vikas Nigam (RVNL) have been excluded from the MSCI India Index, which forms part of the MSCI Global Standard Index.

The changes will come into effect after the market closes on May 29, 2026.

India’s Weightage Remains Largely Stable

India’s weightage in the MSCI Standard Index remained broadly stable at 12.3%, compared with 12.4% earlier. The number of Indian companies in the index also stayed unchanged at 165.

MSCI conducts periodic reviews of its global indices to reassess constituents based on factors such as market capitalisation, liquidity, and free-float availability.

Weightage Changes Across Major Stocks

Based on the recent review, the weightage of many companies in the MSCI Standard Index could move higher.

The companies include Adani Power, Bharat Petroleum Corporation (BPCL), FSN E-Commerce Ventures (Nykaa), Oracle Financial Services Software, and Trent.

However, the weightage of nearly 75 stocks is set to decline. Companies expected to face lower weightage are Bajaj Finance, Coal India, Hindustan Unilever (HUL), Infosys, ONGC, Tata Consultancy Services (TCS), UltraTech Cement, Hindustan Aeronautics, Mahindra & Mahindra, and Nestle India. 

MSCI indices remain closely monitored by global institutional investors and passive funds. Revisions in constituent weightage frequently affect fund inflows into several listed stocks.

MSCI Smallcap Index Sees Multiple Changes

MSCI also announced changes to its Global Small Cap Index in the May 2026 review.

A total of 14 stocks joined the index, while 29 firms moved out from the list. 

New additions to the MSCI Global Small Cap Index include Aditya Infotech, Anthem Biosciences, Anupam Rasayan India, Bluestone Jewellery and Lifestyle, Emmvee Photovoltaic, Escorts Kubota, Fractal Analytics,

Indian Renewable Energy, Jain Resource Recycling, Jubilant FoodWorks, Kalyan Jewellers India, PhysicsWallah, Pine Labs, and Tenneco Clean Air India.

Meanwhile, firms dropped from the smallcap index are Alok Industries, Bajaj Electricals, Blue Jet Healthcare, CE Info Systems, Cello World, Federal Bank, and GMM Pfaudler, among several others. 

Periodic Reviews Aim To Reflect Market Changes

The latest reshuffle reflects changes in company valuations and trading activity across Indian equities. While India’s overall representation in the MSCI Standard Index remained largely steady, the index revision may alter institutional investment flows later this month.