IShares India 50 ETF $29.64 – Nasdaq symbol INDY

Article Excerpt

ISHARES INDIA 50 ETF $29.64 (Nasdaq symbol INDY; buy or sell through brokers; us.ishares.com) is an ETF that tracks the Nifty 50 index—the 50 largest, most liquid Indian securities. The ETF began trading in November 2009. The fund’s top holdings are Housing Development Finance, 6.9%; Infosys (information technology), 6.8%; ITC Ltd. (conglomerate), 6.8%; Reliance Industries (conglomerate), 5.3%; HDFC Bank, 5.1%; ICICI Bank, 4.8%; Tata Consultancy Services (information technology), 4.4%; Larsen & Toubro (conglomerate), 4.1%; and Tata Motors, 3.2%. The ETF has a 0.93% expense ratio. The iShares India 50 ETF is up over 30% this year along with the country’s strong economy—it will likely report growth of 7.3% for 2016, rising to 7.5% in 2017. One of the biggest contributors is low oil prices. India imports most of its oil. The country’s pro-business climate in the wake of Narendra Modi’s May 2014 election as prime minister is also stimulating business investment. Even so, Modi continues to face difficulties getting reforms…