ISHARES S&P INDIA NIFTY 50 INDEX FUND $25.51 (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), 13.0%; Infosys Technologies (software), 7.9%; ICICI Bank, 6.9%; Larsen & Toubro Ltd. (conglomerate), 6.7%; ITC Ltd. (conglomerate), 4.7%; HDFC Bank, 4.3%; State Bank of India, 4.1%, Oil & Natural Gas Corporation, 3.0%; and Tata Consulting Services (information technology), 2.4%.
The fund’s industry breakdown is as follows: Banks, 17.1%; Refineries, 13.5%; Computers: Software, 12.1%; Engineering, 6.7%; Steel and Steel Products, 4.9%; Finance: Housing, 4.9%; Cigarettes, 4.7%; Power, 4.5%; Automobiles, 4.1%; and Electrical Equipment, 3.9%.
iShares S&P India Nifty 50 Index Fund was launched on November 18, 2009. The ETF has an expense ratio of 0.89%.
India’s economy has grown by more than 9% annually over the last few years. The global recession has hurt growth, but it could still expand by 6.5% this year, and as much as 7.5% next year.
iShares S&P India Nifty 50 Index Fund is a buy for aggressive investors.
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