Today, Investors lapped up shares of companies that would be included in the MSCI indices on expectation that these shares will give better returns in the short term. Short term investors having high-risk appetite can buy these stocks for quick gains while long-term investors need to observe the earnings growth potential before taking an investment call, brokers said.
While Sequent Scientifi c, a mid-cap pharmaceutical company, rallied 9.53 per-cent to close at Rs 1057.75, Welspun Corp gained around 9 per-cent to close the day at Rs 117. RicohBSE 0.50 % India, Indo Count Industries, HSIL & Escorts rose by 6 per-cent. These stocks will be included in MSCI Smallcap indices effective from Dec 1. In comparison, the BSE Sensex and Midcap indeces gained 0.07 per-cent & 0.05 per-cent, respectively.
"The initial euphoria in these stocks is due to the requirement that will come from the fund managers who track MSCI indices" reports said.
"The initial euphoria in these stocks is due to the requirement that will come from the fund managers who track MSCI indices" reports said.
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