India may get equity inflows to the tune of $1 billion as the FTSE All World and FTSE All Cap indices undergo semi-annual rebalancing on September 20.
ICICI Bank, Kotak Mahindra Bank, GMR Airports, Tata Technologies, which are part of the index, will see their respective weights go up, leading to combined inflows of $338 million, according to Nuvama Alternative & Quantitative Research.
IRB Infrastructure Developers, Cochin Shipyard and KEI Industries are among the 13 stocks to be added to the FTSE All-World Index.
In the FTSE All Cap index, Five-Star Business Finance, Godfrey Philips India and Eris Lifesciences will be among the 53 additions.
On Friday, FTSE passive flows accounted for around ₹7,000 to 8,000 crore of FPI flows, with the remainder driven by active FII flows. This was clearly reflected in the strong market momentum in large caps, mainly private banks, said Nuvama Alternative & Quantitative Research.