Just like some of the other Asian indexes, Indian indexes closed almost flat today. The S&P BSE Sensex lost four basis points, while the NSE Nifty 50 gained seven basis points. Infosys (INFY), whose ADRs are listed on NYSE, dropped 1.5%. Yesterday, INFY’s ADRs dropped 0.37% on the NYSE. Expect the ADRs to be under pressure today.
In spite of pressure on the IT sector, Wipro (WIT), another Indian IT company who also has ADRs listed on the NYSE, rose 0.27%. Yesterday, Wipro gained 0.22% on the NYSE.
On June 12, the iShares MSCI India ETF (INDA) lost 0.42% on NYSE. The iShares India 50 ETF (INDY), which tracks the NSE Nifty, lost 0.33%, while the WisdomTree India (EPI) lost 0.34%. Infosys and Wipro are constituents of all these ETFs.
Other markets and ETFs
The Taiwan Weighted Index was the biggest loser among the key Asian Indexes with 0.51% loss. Taiwan Semiconductor Manufacturing Company (TSM), which is also listed in the US, lost 2.44% on the Taipei Stock Exchange today. Yesterday, Taiwan Semiconductor Manufacturing Company lost 1.25% on NYSE. TSM was down 0.94% in pre-market trading at 5:09 AM EST.
Indonesia’s Jakarta Composite Index remained steady today. Yesterday, the Indonesia-focused iShares MSCI Indonesia ETF (EIDO) lost 1.28% on NYSE. We may see some recovery in the ETF.