28 Jun

Indian Indexes Fall, Trump and Modi Meet at G20 Summit

WRITTEN BY Mike Sonnenberg

Trump-Modi meeting

The G20 summit started on June 28. President Trump and Indian Prime Minister Modi had a bilateral meeting. They also had a trilateral meeting with Japanese Prime Minister Shinzo Abe. While the details of the meeting haven’t been released, President Trump said that they will be discussing trade, 5G, and Iran.

While not on the same scale as the US-China trade war, the US and India are also engaged in a trade spat.

Indian indexes, stocks, and ETFs

Despite President Trump’s assertion, Indian indexes fell along with most other Asian indexes on June 28. The benchmark S&P BSE Sensex fell 0.48%, while the NSE Nifty 50 fell 0.45% even after opening higher on June 28. The Sensex closed the week 0.51% up but lost 0.8% in June. Nifty rose 0.55% this week but lost 1.12% in June.

On June 28, Infosys (INFY) rose 0.2%, which partially cut June’s losses to 0.8%. Infosys ADRs, traded on the NYSE, have outperformed Infosys shares in June. The ADRs have returned 1.43% in June as of June 27.

On June 27, the WisdomTree India Earnings Fund (EPI) rose 0.46%, while the iShares MSCI India ETF (INDA) rose 0.42%.

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