GQG Partners’ sale of a large block of Adani Energy Solutions shares during India’s closing auction disrupted a trade that hedge funds had positioned for ahead of an MSCI index reshuffle, according to a report by Bloomberg citing unnamed people familiar with the matter.
The unexpected selling pressure overwhelmed demand from passive investors on 31 August, helping drive Adani Energy shares down 10% in their sharpest one-day decline in around seven months. About $569m worth of the stock changed h...
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