Posts for Ticker ‘PIN’

India Election Winners By ETF & Shares (PIN, EPI, IIF, IFN, INP, INFY, IBN, REDF, SAY, SLT, TTM, WIT)

India MapIt is rare that you see an election have this large of an impact, but the Indian stock market surged on the new election results.  The Congress Party won a decisive victory in India and this sent Indian stocks up 17% on average.  The move was so large that the Bombay Stock Exchange had to close after already seeing one halt.  This had a huge impact on stocks, which you can see reflected in the share prices in the high pre-market indications of the major ETF’s, closed-end funds, and active ADR’s listed below.

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Posted on: May 18, 2009 – 8:19 am in ADR, ETF, Emerging Markets, Index, Mutual Funds, Politics, Trading Alert, , , , , , , , , , ,

Satyam Turns Out to be a House of Cards (SAY, INFY, WIT, PIN, EPI, IFN)

Burning_money_picIf you are one of those who cannot stand Indian IT-outsourcing firms, you probably just got another feather in your cap. India’s Satyam Computer Services Ltd. (NYSE: SAY) is turning out to be a house of cards.  Shares closed at $9.35 yesterday after many recent troubles, and that was already down two-thirds from their highs.  Things are worse this morning.  Much, much worse.

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Posted on: January 7, 2009 – 6:38 am in ADR, Accounting, Earnings Warning, Emerging Markets, Law, Shareholder Issues, , , , , ,

India ETF’s & Funds Hold Up After Terror Attacks in Mumbai (PIN, EPI, IIF, IFN, INP)

India_map_image_2Fresh terrorist attacks targeted against foreigners in Mumbai, India have failed to thwart a market rally today.  Reports have foreigners being taken hostage at premiere hotels frequented by the wealthy and by business travelers. Some 60 deaths have been reported.  Interestingly enough, this has also failed to take the wind out of the Indian ETF’s and Indian ADR’s which are actively traded in the US. ETF and fund price moves are as follows:

  • PowerShares India (NYSE: PIN) up 4.5% at $11.31
  • WisdomTree India Earnings (NYSE: EPI) up 4.1% at $10.37
  • Morgan Stanley India Investment Fund, Inc. (NYSE: IIF) up 1.4% at $12.39
  • India Fund, Inc. (NYSE: IFN) up 4.1% at $17.47
  • iPath MSCI India Index ETN (NYSE: INP) up 4% at $28.72

We also added in an after-report list to the ADR’s and active stocks we track that trade in the U.S. to show a broad interest as well.

Jon C. Ogg
November 26, 2008

Posted on: November 26, 2008 – 3:26 pm in ETF, Emerging Markets, , , , ,

ETF Launch: PowerShares India Portfolio (PIN, INFY, IBN, SAY, SLT, TTM, WIT)

We have now seen two Indian stock ETF’s successfully launch in the last few weeks.  This morning there was another ETF launch on NYSE, although you can see the February news release with the full details.  The PowerShares India Portfolio Fund Exchange Traded Fund listed under the ticker symbol "PIN" and began trading on NYSE Arca today.  This ETF is based on the Indus India Index and tracks the performance of the Indian equity markets as a whole with representation across the consumer products, information technology, health sciences, financial services, and heavy industry sectors.

According to the press release at NYSE, the following NYSE listed ADR shares are a part of the index currently included in the Indus India Index:

  • Infosys Technologies Ltd. (NASDAQ: INFY), ICICI Bank (NYSE: IBN) Satyam Computer Services (NYSE: SAY), Sterlite Industries (NYSE: SLT), Tata Motors (NYSE: TTM), Wipro Ltd. (NYSE: WIT)

As a reminder, because of percentage foreign ownership limitation rules and because of ADR conversions, many US-traded ADR’s actually trade at premiums to shares traded locally in India.  WisdomTree also recently launched an ETF that tracks Indians stocks at the local exchange level.

Jon C. Ogg
March 5, 2008

Posted on: March 5, 2008 – 12:58 pm in ETF, , , , , , ,