CLSA adjusts India portfolio post BJP’s election setback, favoring defensive stance with HCL Tech replacing L&T. Overweight on banks, commodities, IT, insurance, and staples. Concerns over market valuation amid Nifty’s 6% drop and historic high PE ratio.
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