Indian indexes rose
After trading flat on June 19, Indian indexes finally looked up. The benchmark S&P BSE Sensex gained 1.25%, while the NSE Nifty 50 rose 1.2%. For both of the indexes, most of the sectors were trading in the green on June 20. Among the 30 companies on Sensex, 28 saw gains. HDFC Bank (HDB) was one of the losses on June 20. HDFC Bank ADRs are traded on the NYSE. So far in 2019, the Sensex has seen 9.8% growth. Wipro (WIT) ADRs are also traded in the US. Wipro saw a 2.4% drop on Indian exchanges.
On June 19, HDFC Bank ADRs gained 0.39% on the NYSE. Infosys ADRs lost 1.4% on the NYSE. With Infosys (INFY) posting moderate gains on Indian exchanges on June 20, there could be some recovery in Infosys ADRs after the US market opens. Wipro ADRs lost 2.88% in the US on June 19.
The WisdomTree India Earnings Fund (EPI) saw a 0.43% decline on June 19 despite other Asian ETFs’ generally positive mood. The iShares MSCI India ETF (INDA) lost 0.63%, while the MSCI India 50 ETF (INDY) stayed flat. All of these ETFs hold HDFC Bank and Infosys.
Indonesia’s Jakarta Composite Index stayed flat on June 20. The iShares MSCI Indonesia ETF (EIDO) gained 1.26% on the NYSE Arca on June 19. With Indonesian equities staying flat, EIDO might remain under minor pressure on June 20.