FTSE index rebalancing to drive passive inflows worth $1.7 billion: Daily Market Update – 15 March 2024

The rejig of the FTSE index, which comes into effect from March 15, is expected to trigger passive inflows of around $1.7 billion, with the major chunk flowing into BFSI names like HDFC Bank, Kotak Mahindra Bank and Sundaram Finance, as estimated by Nuvama Alternative & Quantitative Research. A couple of more rejigs like that of the BSE Sensex and Bharat 22 indices also comes into effect from the next session.