Current Affairs - Business - Discussion

MSCI Inc ( Morgan Stanley Capital International), One of the world's biggest index compilers, has added HDFC Life Insurance Company Ltd. to its Global Standard Index and removed Union Bank of India(UBI) from its India Smallcap Index. The changes in the MSCI Index will be implemented as of the closing hours of August 27, 2019.After the announcement made by the MSCI, the stocks of HDFC Life gained more than 5 % intraday to hit a record high of Rs 545& the shares of Union Bank corrected 2 % at Rs 62.40.