MSCI Index: A Global Investor's Benchmark for Selecting Top Stocks
- Muhammad Silvansyah Syahdi Muharram
- Aug 8
- 2 min read
Updated: Nov 6
MSCI Inc., formerly known as Morgan Stanley Capital International, is a global stock index research company based in New York, United States.
Currently, MSCI at least provides 1,1129 flagship indexes out of a total of 8,286 constituents, monitoring and analyzing stocks from 47 countries (23 developed markets and 24 emerging markets), including Indonesia.
Like other indexes, MSCI has its own methodology and criteria for determining which stocks are included in the index calculation, including market capitalization, liquidity, and accessibility for global investors.
MSCI Index Categories
MSCI generally categorizes indexes based on market exposure (developed or emerging), market capitalization (large, mid, or small), as well as specific themes and regions.
Indonesian stocks are included in several indexes, such as the MSCI Global Standard Index and the MSCI Indonesia Index. There are also indexes based on other categories, such as the MSCI Small Cap Index, MSCI Investable Market Index, MSCI Emerging Market Index, and more.
Indonesian Stocks in the MSCI Index
In the latest MSCI Index Factsheet on October 31, 2025, a total of 71 Indonesian stocks were recorded, consisting of 8 large-cap stocks, 10 mid-cap stocks, and 53 small-cap stocks according to MSCI's assessment.
The current MSCI Index Review was announced on November 5, 2025, and has generated significant interest among investors.
Below is the list of constituents that were added to or deleted from the MSCI Index Review that became effective as of November 25, 2025.
Global Standard Index
Additions | Deletions |
BREN Barito Renewables Energy | ICBP Indofood CBP Sukses Makmur |
BRMS Bumi Resources Minerals | KLBF Kalbe Farma |
Small Cap Index
Additions | Deletions |
DSNG Dharma Satya Nusantara | BRMS Bumi Resources Minerals |
ENRG Energi Mega Persada | SMSM Selamat Sempurna |
KLBF Kalbe Farma | ULTJ Ultrajaya Milk Industry & Trdg. |
MSIN MNC Digital Entertainment | |
RAJA Rukun Raharja | |
WIFI Solusi Sinergi Digital | |
TINS Timah |
Disclaimer: The content is made for educational purposes, not a recommendation to buy or sell a particular stock. PT KAF Sekuritas Indonesia is licensed and supervised by the Financial Services Authority (OJK).