Good result for India

Article Excerpt

ISHARES S&P INDIA NIFTY 50 INDEX FUND $28.82 (Nasdaq symbol INDY; buy or sell through brokers; us.ishares.com) is an ETF that aims to track the S&P CNX Nifty Index, which represents the 50 largest, most liquid Indian securities. Indian stocks have moved up after the recent election of Narendra Modi as prime minister. Modi’s Bharatiya Janata Party (BJP) won the election with 282 of the 545 seats in the lower house of parliament. Voters mainly reacted to India’s slowing economic growth and ever-rising corruption. Prime Minister Modi rose to prominence over the last 10 years as the business-friendly chief minister of the western state of Gujarat. He now aims to bring a fresh approach to tackling India’s need to modernize its transportation, communications and electrical infrastructure, as well as its inefficient and corrupt bureaucracy. The Indian economy and stock market have considerable long-term potential, and a change of government is a big plus. But in the near term, the risk for safety-conscious investors is…