13 May

Indian Indexes Fell Sharply in Late Trading on May 13

WRITTEN BY Mayur Sontakke, CFA, FRM

SENSEX and NIFTY

Late selling pressure dragged both the S&P BSE Sensex and the NIFTY 50 down on May 13. The NIFTY 50 closed with a fall of 1.16% at 11,148.20, while the S&P BSE Sensex fell 0.99% to 37,090.82. These were the ninth straight falls for India’s key indexes.

All sectors except IT ended up in the red. The Indian rupee fell against the US dollar, helping IT companies.

Indian Indexes Fell Sharply in Late Trading on May 13

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Your ETFs

The WisdomTree India Earnings ETF (EPI), which invests in companies in both of the above indexes, gained 0.26% on May 10 against the SENSEX’s 0.26% loss. The iShares MSCI India ETF (INDA) gained 0.21%. The iShares India 50 ETF (INDY) gained 0.44% against the NIFTY’s 0.2% loss on the day.

Other markets and ETFs

Taiwan’s TSEC Weighted Index was the biggest loser among Asian indexes on May 13. The index lost 1.44% today on the fear that Taiwanese manufacturers with factories in China would suffer. The iShares MSCI Taiwan Capped ETF (EWT) gained 0.55% on May 10, outperforming the TSEC Weighted Index, which retreated marginally.

The iShares Asia 50 ETF (AIA) gained 0.9%, while the Vanguard FTSE Pacific Index ETF (VPL) gained 0.78% on May 10.

The Indonesian Jakarta Composite fell 1.19% on May 13.

European markets were also falling, with the German DAX leading the pack at 6:30 AM EDT. DAX was down 0.78%, France’s CAC was down 0.55%, and Britain’s FTSE was down marginally.

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