Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Index Rebalance

<ul>
<li>There could be 22 changes for the Nifty200 Momentum 30 Index that will be implemented at the close on 29 June.</li>
<li>If all changes are on expected lines, one-way turnover is estimated at 74.6% and that will result in a round-trip trade of INR 180bn (US$1.9bn).</li>
<li>There is a huge sector mismatch with Industrials and Utilities stocks expected to net gain 4 spots each while Financials are expected to lose 9 index spots.</li>
</ul>


There could be 22 changes for the Nifty200 Momentum 30 Index that will be implemented at the close on 29 June.
If all changes are on expected lines, one-way turnover is estimated at 74.6% and that will result in a round-trip trade of INR 180bn (US$1.9bn).
There is a huge sector mismatch with Industrials and Utilities stocks expected to net gain 4 spots each while Financials are expected to lose 9 index spots.


NIFTY200 Momentum30 Index Rebalance Preview: 75% One-Way Turnover & US$1.9bn Trade

Index Rebal/Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal/Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

<ul>
<li>NIFTY 50 represents the 50 largest stocks listed in the National Stock Exchange (NSE) of India and the NIFTY Next 50 index tracks the next 50 largest names</li>
<li>In this insight, we take a look at the names leading the race to become ADDs/DELs for these indices during the September 2026 index rebal event.</li>
<li>We see one change for NIFTY 50 and five changes for NIFTY 100.</li>
</ul>


NIFTY 50 represents the 50 largest stocks listed in the National Stock Exchange (NSE) of India and the NIFTY Next 50 index tracks the next 50 largest names
In this insight, we take a look at the names leading the race to become ADDs/DELs for these indices during the September 2026 index rebal event.
We see one change for NIFTY 50 and five changes for NIFTY 100.


Quiddity Leaderboard NIFTY Sep26: Many Changes Likely; ~US$950mn Collective One-Way Flows

India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

Equity Bottom-Up

<ul>
<li>Finolex Cables is transitioning into a diversified electrical platform, driven by strong volume growth across Cables, Solar and Auto Segments</li>
<li>
Q3 FY26 Revenue of Rs. 1,599 crore up 35% YoY  with Electrical Cable Volume surging 20%+ YoY and Solar Cables emerging as High Utilization Segment. </li>
<li>Finolex’s backward integration into Optical Fiber Preform will shift it from Price-Taker to Margin-Defender in OFC. </li>
</ul>


Finolex Cables is transitioning into a diversified electrical platform, driven by strong volume growth across Cables, Solar and Auto Segments

Q3 FY26 Revenue of Rs. 1,599 crore up 35% YoY  with Electrical Cable Volume surging 20%+ YoY and Solar Cables emerging as High Utilization Segment. 
Finolex’s backward integration into Optical Fiber Preform will shift it from Price-Taker to Margin-Defender in OFC. 


Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

DZT Research

DZT Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Quantitative Analysis

<ul>
<li>We analysed the earning revision of component stocks of MS-India in the past month.</li>
<li>We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.</li>
<li>We highlighted EPS revision on Oil &amp; Natural Gas, ICICI Bank, HDFC Bank, Balkrishna Industries, L&amp;T Finance, Eternal, Tata Motors Passenger Vehicles, Tata Motors.</li>
</ul>


We analysed the earning revision of component stocks of MS-India in the past month.
We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.
We highlighted EPS revision on Oil &amp; Natural Gas, ICICI Bank, HDFC Bank, Balkrishna Industries, L&amp;T Finance, Eternal, Tata Motors Passenger Vehicles, Tata Motors.


MS-India Index Earning Revision (Mar): Oil & Natural Gas, ICICI Bank, HDFC Bank

<ul>
<li>NIFTY 50 represents the 50 largest stocks listed in the National Stock Exchange (NSE) of India and the NIFTY Next 50 index tracks the next 50 largest names.</li>
<li>Here we take a look at the names leading the race to become ADDs/DELs for these indices during the March 2026 index rebal event.</li>
<li>We see no changes for NIFTY 50 and five changes for NIFTY 100 (and NIFTY Next 50).</li>
</ul>


NIFTY 50 represents the 50 largest stocks listed in the National Stock Exchange (NSE) of India and the NIFTY Next 50 index tracks the next 50 largest names.
Here we take a look at the names leading the race to become ADDs/DELs for these indices during the March 2026 index rebal event.
We see no changes for NIFTY 50 and five changes for NIFTY 100 (and NIFTY Next 50).


Quiddity Leaderboard NIFTY Mar26: Five Changes and US$367mn One-Way Flow NIFTY Next 50

India

Polycab India Ltd. is India's largest manufacturer of wires and cables, and a prominent player in the Fast Moving Electrical Goods (FMEG) industry, offering products such as electric fans, LED lighting, switches, switchgear, and solar products. The company also operates in the Engineering, Procurement, and Construction (EPC) sector, specializing in power distribution and rural electrification projects. Polycab India is headquartered in Mumbai, India, and was incorporated in 1996.

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Polycab India (POLYCAB IN)

NIFTY200 Momentum30 Index Rebalance Preview: 75% One-Way Turnover & US$1.9bn Trade

We forecast 22 changes for the index in Dec. One-way turnover is estimated at 74.6% resulting in a round-trip trade of INR 180bn (US$1.9bn). The...

Brian Freitas

Quiddity Leaderboard NIFTY Sep26: Many Changes Likely; ~US$950mn Collective One-Way Flows

The NIFTY 50 expected ADD/DEL could trigger US$640mn in one-way flows. There could be more changes for NIFTY 100 which could collectively trigger...

Janaghan Jeyakumar, CFA

Finolex Cables: Expanding Beyond Wires

Finolex Cables sees strong Q3 FY26 revenue growth, with electrical cable volume surging and focus on optical fiber preform integration for margin...

Sudarshan Bhandari

MS-India Index Earning Revision (Mar): Oil & Natural Gas, ICICI Bank, HDFC Bank

We analyzed MS-India's consensus for Mar 2026 and highlighted changes of EPS in Oil & Natural Gas (ONGC IN), ICICI Bank (ICICIBC IN), HDFC Bank...

Ke Yan, CFA, FRM

Quiddity Leaderboard NIFTY Mar26: Five Changes and US$367mn One-Way Flow NIFTY Next 50

These are our final expectations for ADDs/DELs for the NIFTY March 2026 index review. The reference period ended on 31st January 2026. We expect...

Janaghan Jeyakumar, CFA

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NIFTY200 Momentum30 Index Rebalance Preview: 75% One-Way Turnover & US$1.9bn Trade

We forecast 22 changes for the index in Dec. One-way turnover is estimated at 74.6% resulting in a round-trip trade of INR 180bn (US$1.9bn). The...

Brian Freitas

Quiddity Leaderboard NIFTY Sep26: Many Changes Likely; ~US$950mn Collective One-Way Flows

The NIFTY 50 expected ADD/DEL could trigger US$640mn in one-way flows. There could be more changes for NIFTY 100 which could collectively trigger...

Janaghan Jeyakumar, CFA

Finolex Cables: Expanding Beyond Wires

​Finolex Cables sees strong Q3 FY26 revenue growth, with electrical cable volume surging and focus on optical fiber preform integration for margin...

Sudarshan Bhandari

MS-India Index Earning Revision (Mar): Oil & Natural Gas, ICICI Bank, HDFC Bank

We analyzed MS-India's consensus for Mar 2026 and highlighted changes of EPS in Oil & Natural Gas (ONGC IN), ICICI Bank (ICICIBC IN), HDFC Bank...

Ke Yan, CFA, FRM

Quiddity Leaderboard NIFTY Mar26: Five Changes and US$367mn One-Way Flow NIFTY Next 50

These are our final expectations for ADDs/DELs for the NIFTY March 2026 index review. The reference period ended on 31st January 2026. We expect...

Janaghan Jeyakumar, CFA

Finolex Cables sees strong Q3 FY26 revenue growth, with electrical cable volume surging and focus on optical fiber preform integration for margin...