Mumbai: Global index provider MSCI said it has added Federal Bank, Indian Bank, Multi Commodity Exchange of India and National Aluminium Company (Nalco) to the Global Standard Index in its May index review. These changes, which will be effective as of market close on May 29, are expected to result in passive fund flows worth nearly $1.38 billion into the four stocks, according to Nuvama Alternative and Quantitative Research.MSCI said Adani Energy Solutions, which had previously been slated for inclusion in the index, is now ineligible for addition as it is currently under NSE's Additional Surveillance Measure (ASM) framework. Hyundai Motor India, Kalyan Jewellers India, Rail Vikas Nigam and Jubilant FoodWorks will be excluded from this index, leading to outflows worth $715 million as per Nuvama's estimates.MSCI also made changes to its India Small Cap Index, adding 14 stocks while deleting 29. Anthem Biosciences, BlueStone Jewellery and Lifestyle, Fractal Analytics and Pine Labs are among the 14 stocks to be added to the small-cap index.