India has overtaken China’s weighting in one of the world’s biggest stock market benchmarks, as share sales and rising liquidity in Indian companies make the country more open to investors.
India’s share of the free-float, “investable”, version of the MSCI All-Country World index, which tracks almost all global stocks that can be bought on the open market, rose to 2.33 per cent this month, eclipsing China’s 2.06 per cent.
The shift makes India the sixth-largest weighting in an index that is dominated by US companies. It also reflects demand in India’s red-hot stock market, which is also unlocking shares for global investors to buy just as the Chinese economy slumps and fund managers dump China-related stocks.
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