MSCI August Rebalance and Jio IPO Approval to Test Market

Swiggy's shares closed 2.5% higher on Friday, after rising as much as 5.61%, ahead of being removed from MSCI indexes. The firm faces an estimated $360 million in passive outflows, according to Nuvama's Abhilash Pagaria. Swiggy's shares have fallen 28.5% this year, underperforming the Nifty mid-cap 100 index.

MSCI is reviewing rules that could remove MicroStrategy from global equity indexes, focusing on companies primarily engaged in asset accumulation. MicroStrategy shares rose 35% in a week but are down 60% year-over-year. The review uses five financial metrics to assess eligibility, potentially affecting demand and capital access for MicroStrategy's Bitcoin purchases.

MSCI Inc. (MSCI), a data and analytics provider, has underperformed the broader market over the past year. Its shares fell 10.1% on July 21 after raising its 2026 operating expense forecast, citing higher costs. Analysts expect MSCI's adjusted EPS to grow 13.5% YoY to $19.61. The consensus rating is 'Strong Buy' with a mean price target of $690.44, a 22.5% premium to current levels.

Sky Gold & Diamonds Ltd was added to the MSCI India Domestic Small Cap Index following MSCI’s latest review. The company said it turned operating cash flow positive in the current quarter and is strengthening governance and its “Sky Gold 3.0” operating model. BSE shares last traded at Rs. 775.45.

MSCI plans to revise its global index methodology to identify “non-operating” companies using five balance-sheet and cash-flow ratios, potentially removing Strategy (MSTR) from indices. MSCI simulations using May 2026 data suggest three removals: Strategy, Yellow Cake, and Metaplanet. Strategy challenged MSCI on Aug. 14 and has over 840,000 BTC. MSCI seeks comments until Sept. 30, 2026.

Strategy (Bitcoin treasury firm) criticized MSCI Inc.’s plan to exclude it from MSCI indices, arguing digital assets are assets and index providers should not decide which assets firms can own. MSCI’s revised framework would still target “non-operating companies.” The article cites MSTR’s Friday move and a 73% market-implied deletion odds by December.