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Swiggy shares fall after MSCI removes it from key indexes

The stock slid over 2.3% on Thursday, extending a two-session drop that erased nearly ₹5,000 crore from market capitalization, to ₹77,813 crore.

Reported · Written up by our desk · Trade & Tariffs

Swiggy shares fell for a second straight session in Thursday trading after MSCI said the company would be removed from its MSCI Global Standard Index and the MSCI Mid Cap Index, with the changes effective from 7 September.

According to LiveMint Markets, Swiggy opened at ₹265.35 on the NSE, compared with the previous close of ₹267.70, and the stock was down more than 2.3% on the day. The decline followed a 4.0% drop on Wednesday to ₹264.55, its lowest level since late July, taking the two-day loss to 6.0%.

The index-linked move also weighed on valuation, with the drop erasing nearly ₹5,000 crore in market capitalization to ₹77,813 crore. The shares were included in MSCI indices in August 2025, after Swiggy approved changes at its annual general meeting on August 18 that allowed it to become Indian-owned and controlled.

LiveMint Markets also cited a Jefferies India report dated August 19, saying foreign shareholding restrictions could trigger passive outflows from overseas funds tracking MSCI and FTSE indices. Market estimates suggest passive outflows of up to $340 million after the deletion, and the outlet noted Swiggy has been under pressure, losing 39% over the past year and more than 33% year-to-date.

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