Driven by significant short-covering by Foreign Institutional Investors (FIIs), the Nifty surged approximately 3%, while the Sensex soared by a staggering 2,778 points on Monday morning, following the unexpected exit poll projections of a landslide victory for the NDA. The “Aayega To Modi” slogan became an investing strategy as traders enthusiastically bought Prime Minister Narendra Modi’s favored Public Sector Undertakings (PSUs) in entirety.
MSCI rebalancing on Monday: Adani Energy, Groww set for big inflows; RIL, Jio Financial may face outflows
MSCI’s latest rebalancing is set to drive heightened trading activity in several Indian stocks on Monday, with revised weights taking effect from September 1. The