As more foreign investors throng into fast-expanding emerging market and exchange traded funds (ETFs), India’s key benchmark index recently crossed over a pivotal level for the first time in more than two and a half years.
The Bombay Stock Exchange’s Sensitive Index, or Sensex for short, crossed the 20,000 point level for the first time since January 2008, reports Rajhkumar K. Shaaw for Financial Post. The Sensex has increased 15% for the year, which also makes the index the best performer among the world’s top 10 markets. Inflows from foreign funds into India’s equities have surged 54% for the year. [India ETFs: 5 Reasons to Believe the Bull Run.]
The United States is angling to have a presence in India’s growth story. U.S. Trade Representative Ron Kirk stated that “India is a dynamic market with a growing, educated middle class and long-term prospects for increased prosperity,” according to The Economic Times.
During a meeting between Kirk and the visiting Indian Commerce and Industry Minister Anand Sharma, the two representatives discussed issues that included agricultural and other trade goods, services, intellectual property, information technology, and investment that could contribute to the growth of both economies. [Agriculture Sector Threatens India ETFs.]
For more information on India, visit our India category.
- PowerShares India (NYSEArca: PIN)
- WisdomTree India Earnings (NYSEArca: EPI)
- iShares S&P India Nifty 50 Index (NYSEArca: INDY)
- EG Shares Indxx India Small Cap ETF (NYSEArca: SCIN)
Max Chen contributed to this article.
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.