India’s Election is Great for Indian Stocks
Source: http://feedproxy.google.com/~r/ContrarianProfits/~3/N8BnnvN2roM/16823Posted on Monday, May 18th, 2009 | In Emerging Markets, India, Market Commentary
India’s weekend election gives the ruling Congress Party a big win and paves the way for economic reforms.
India’s ruling Congress Party has a goal of helping India’s poor and pushes free-market reforms.
After this election, India is apt to open up its retail, insurance and banking sectors to more foreign investment. Moreover, the government may reduce its ownership in refineries, banks and fertilizer companies.
This election could pave the way for a large amount of capital to flow into Indian stocks.
Bombay Stock Exchange stocks are taking off as investors look optimistically at a critical election victory for the Congress Party-led alliance.
The best way to play India: PowerShares India (NYSE: PIN). This Exchange Traded Fund holds a nice basket of Indian stocks and seeks to mirror the Indian stock market measured by the Indus India index.
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Bombay Stock Exchange, Congress Party;, contrarian profits, Emerging Markets, Exchange Traded Fund, India, India, Market Commentary, PowerShares India;, retail
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