ISHARES S&P INDIA NIFTY 50 INDEX FUND $27.04 - Nasdaq symbol INDY

ISHARES S&P INDIA NIFTY 50 INDEX FUND $27.04 (Nasdaq symbol INDY; buy or sell through brokers), is an ETF that aims to track the S&P CNX Nifty Index, which represents the 50 largest, most liquid Indian securities on the National Stock Exchange of India. The fund’s top holdings are Reliance Industries (conglomerate), 10.2%; Infosys Technologies (software), 8.3%; ICICI Bank, 6.9%; Larsen & Toubro Ltd. (conglomerate), 6.2%; ITC Ltd. (conglomerate), 5.4%; Housing Development Finance, 5.2%; HDFC Bank, 4.8%; State Bank of India, 4.7%; Oil and Natural Gas Corp., 2.8%; and Tata Consulting Services (information technology), 2.8%. The fund’s industry breakdown includes: Banks, 19.6%; Computers: Software, 13.0%; Refineries, 10.9%; Cigarettes, 5.4%; Finance: Housing, 5.2%; Automobiles, 4.7%; Power, 4.6%; Steel and Steel Products, 4.4%; Oil Exploration and Production, 3.8%; and Electrical Equipment, 3.7%. The ETF has an expense ratio of 0.89%. India’s economy has grown by more than 9% annually in the past few years. The weak global economy hurt growth, but India could still expand by 8.5% this year, and as much as 10% next year. iShares S&P India Nifty 50 Index Fund is a buy for aggressive investors.