Motilal Oswal shares surge 9% to hit new 52-week after FTSE inclusion

By Aditya Bhagchandani Published on August 26, 2024, 10:03 IST

Motilal Oswal Financial Services saw its shares rise by up to 9% on Monday following the news of its inclusion in the FTSE All-World Index.

The global index provider FTSE announced on Friday that 13 Indian companies, including Motilal Oswal, will be added to the index as part of its Semiannual Index Review. These changes are set to take effect on September 23, 2024.

The FTSE All-World Index is a market-capitalization weighted index that tracks the performance of large and mid-cap stocks from the FTSE Global Equity Index Series. As of January 31, 2024, India’s weightage in the index stands at 2.06%, with 213 Indian stocks included.

Motilal Oswal Financial Services was among the notable Indian companies added to the index, alongside other firms such as Bank of Maharashtra, Bharat Dynamics, Cochin Shipyard, and KEI Industries.

By 10:00 am, Motilal Oswal shares were trading 8.33% higher at ₹754.45 on NSE.

Motilal Oswal

Aditya Bhagchandani

Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.