Among other changes, big names such as Hindustan Unilever, Bajaj Finance, and TCS saw their weightages trimmed on the Global Standard index. These stocks could see passive outflows between $140 million and $204 million, according to IIFL Capital.

The rebalancing of the MSCI’s Global Standard index, that came into effect on Friday, triggered a late sharp selloff in the Indian stock markets, causing the benchmark indices to slump around 1.5%.

India’s weightage on the marquee global index fell marginally to 12.3% from 12.4% earlier as the changes took effect.

Despite the weightage being broadly stable, such index rejigs trigger short-term pressure on the market as global investors rebalance their portfolios based on the changes.…