MSCI's August review cuts India's weight by ~2-2.5%, with analysts warning of $20-25 billion outflows, though most selling may be priced in. Swiggy, Vishal Mega Mart, Waaree Energies, and Hitachi Energy join the Standard Index; Sona BLW, Thermax exit. The Smallcap Index adds 15 stocks and removes 6, with major passive flow shifts expected.