Tag: Indian markets

Shares of PNB Gilts hit upper circuit on September 22, 2023, following news that India's inclusion in JPMorgan's bond index is seen driving billions of dollars of inflows. The index provider will add Indian bonds to its widely-tracked emerging market index starting June 28, 2024. PNB Gilts is a primary dealer in government securities and other fixed-income instruments. The inclusion of Indian bonds in JPMorgan's index is expected to attract significant foreign inflows, which is likely to benefit PNB Gilts and other primary dealers in government securities.