Swiggy Shares Pare Gains After MSCI Exit
Swiggy shares gave up early gains to end higher on Friday ahead of their removal from MSCI indexes. The delivery platform faced passive outflows and foreign ownership limits.
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SWIGGY LTD shares rose 2.5% on Friday afternoon in India, paring earlier gains ahead of its removal from MSCI indexes amid heavy overseas outflows. The delivery platform's stock had climbed as much as 5.61% before the country's closing stock auction triggered portfolio adjustments by global index funds. The MSCI index deletion and tightening foreign ownership caps have weighed heavily on investor sentiment, pushing the stock down 28.5% so far this year.
