MSCI India May rejig: Adani Energy Solutions Ltd, Federal Bank Ltd, Hitachi Energy India Ltd, MCX and National Aluminium Company Ltd (Nalco) are five stocks that MSCI added to its India Domestic index on Wednesday. The global index provider excluded four stocks namely Hyundai Motor India Ltd, Kalyan Jewellers India Ltd, Rail Vikas Nigam Ltd (RVNL) and SBI Cards and Payment, from the list. The changes will take place  as of the close of May 29, 2026, MSCI said.

India’s weight in the MSCI Standard Index will remain steady at 12.3 per cent against 12.4 per cent with the total number of represented companies remains static at 165. As MSCI has implemented changes to its float calculation methodology, which has resultant in several weight
adjustments across stocks. 

MSCI said it would add 16 stocks and exclude 30 stocks from its India Domestic Small Cap index. 

"There are also several changes in the Small Cap Index, which are highlighted in the subsequent slides. As the small-cap universe remained under pressure, the index will see over a dozen exclusions in India, with the stock count reducing from 474 to 459 post-rejig," Nuvama said in a note.

The additions included Indian Renewable Energy Development Agency  (IREDA), PhysicsWallah, L&T technology Services Ltd, Procter & Gamble India, Jain Resource Recycling, Aditya Infotech, Kalyan Jewellers, Gujarat Fluro and Anupam Rasayan, among others.   

Smallcap stocks that are excluded include Bajaj Electricals, Nalco, Texmaco Rail, Federal Bank, Raymond Lifestyle, Indigo Paints, L&T Finance, NIIT Learning Systems, and Shree Renuka, among others.