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Indian Indexes Defying US and Other Asian Trends

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Indian indexes gain

After falling for nine consecutive trading days, Indian indexes were up today. The S&P BSE SENSEX jumped 0.6% to 37,318.33 while the NSE Nifty 50 gained 0.66% to end at 11,222.05. For the Nifty, we saw the end of the longest streak of losses since 2011.

Most sectors recorded gains—except for IT. The Indian rupee was trading stronger, hampering the technology sector.

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ETFs

The WisdomTree India Earnings ETF (EPI), which invests in companies in both of the above indexes, lost 2.91% on May 13 against the SENSEX’s 0.99% loss. The iShares MSCI India ETF (INDA) lost 2.65%. Meanwhile, the iShares India 50 ETF (INDY) lost 2.83% against the NIFTY’s 1.16% loss for the day.

Other markets and ETFs

The Taiwan-focused iShares MSCI Taiwan ETF (EWT) saw one of the biggest losses among Asia ETFs on May 13. The index lost 3.88% against the TSEC Weighed index’s 1.44% loss.

The iShares Asia 50 ETF (AIA), which invests in APAC equities, fell 3.85% yesterday.

Indonesia’s Jakarta Composite Index lost 1.2% today. The iShares MSCI Indonesia ETF (EIDO) lost 3.46% on May 13.

European markets were having a field day despite heavy losses in US indexes yesterday. Germany’s DAX performance Index was up 0.44% at 6:34 AM ET. The British FTSE 100 was up 0.93% at 6: 51, and the French CAC 40 was up over a percent at 6:37.

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