---
title: "EMQQ Global Indices: 2H 2023 Rebalance Updates"
description: A broad summary of the changes made to the three EMQQ Global indices (EMQQ index, FMQQ index, and INQQ index) in the last of two semi-rebalances in 2023.
image: https://www.emqqglobal.com/hubfs/Blog%20Banners.png
---

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# EMQQ Global Indices: 2H 2023 Rebalance Updates

December 20, 2023

 

The three indices under the EMQQ Global umbrella, inclusive of The Emerging Markets Internet & Ecommerce Index (ticker: EMQQ)**, The India Internet & Ecommerce Index **(ticker: INQQ), and The Next Frontier Internet & Ecommerce Index (ticker: FMQQ), recently completed the last of two semi-rebalances of 2023. Here is a broad summary of those changes: 

 

#### **EMQQ Index** 

- The EMQQ Index decreased to 112 constituents, adding seven companies and dropping twelve due to index rules on market capitalization, liquidity and trading volume.   
- Three of the seven new additions originated from Brazil, and two from India. There was one additional add from China and one from the UAE. 
- Some notable additions include Vtex, a leading e-commerce enablement platform that boasts Brazil as its largest market, and C.E. Info Systems (MapMyIndia), a digital maps and location services company based in India. 
- India’s weight in the Index continues to rise, from less than 1% several years ago to over 16% in the most recent December 2023 rebalance. India is the second largest country by weight in the index behind China. 

 

#### **FMQQ Index** 

- The FMQQ Index increased to 66 constituents, adding six companies and dropping four due to Index rules on market capitalization, liquidity, and trading volume.   
- Of the six new additions to the index, three hail from Brazil, two from India, and one from the UAE.  
- Some notable additions to the Index were Yalla Group, a leading social media platform across the UAE, and Vtex (as discussed above). 
- India has now become the largest country allocation in the FMQQ Index, with a weight of nearly 35%, followed by South Korea and Brazil. The latter has seen its index weight climb to just above 22%. 

 

#### **INQQ Index** 

- The number of INQQ Index constituents decreased slightly to 25, adding two companies and dropping three due to Index rules on market capitalization, liquidity, and trading volume.   
- The two additions to the index were C.E. Info Systems (MapMyIndia) and Teamlease Services. 
- MapMyIndia is India’s leading provider of advanced digital maps, geospatial software, and location-based IoT technologies. It is a market leader in its respective niche. Meanwhile, Teamlease Services is a leading jobs search portal, particularly for blue-collar workers across India. 
- The INQQ Index continues to grow gradually as the Indian internet & e-commerce market matures from its infancy.  

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