After yet another lousy year in 2014, international stock markets
have rallied strongly out of the starting gates this year. Leading the
pack through the first three weeks of the year is one of last year's top
performers, India.
Of the 46 global markets exchange-traded funds (ETFs) I track each day at my firm, India is the year's top performer with a 10.16% year-to-date gain in the benchmark WisdomTree India Earnings ETF EPI, -0.25%
By way of comparison, the S&P 500 has barely flat this year, and ranks a lowly number 30 on that list.
Even as the stock markets of leading emerging markets like Brazil, Russia and China are bouncing back after a dismal 2014, India has broken away from its BRIC rivals, both in terms of market performance and its prospects for economic growth.
The Modi bull market
Having stayed together for close to 60 years, India is a remarkably complex country. Its mixture of competing ethnicities, religions and castes are far beyond most investors’ ability to comprehend.
That said, in my opinion, the explanation for India's current bull market is quite simple: the election of Prime Minister Narendra Modi and his Bharatiya Janata Party (BJP) party in a landslide victory last May. In sweeping the Indian National Congress from power, Modi's election was hailed as the biggest change in Indian politics since the nation gained independence in 1947.
Read more Click here / www.trade4x.net
Of the 46 global markets exchange-traded funds (ETFs) I track each day at my firm, India is the year's top performer with a 10.16% year-to-date gain in the benchmark WisdomTree India Earnings ETF EPI, -0.25%
By way of comparison, the S&P 500 has barely flat this year, and ranks a lowly number 30 on that list.
Even as the stock markets of leading emerging markets like Brazil, Russia and China are bouncing back after a dismal 2014, India has broken away from its BRIC rivals, both in terms of market performance and its prospects for economic growth.
The Modi bull market
Having stayed together for close to 60 years, India is a remarkably complex country. Its mixture of competing ethnicities, religions and castes are far beyond most investors’ ability to comprehend.
That said, in my opinion, the explanation for India's current bull market is quite simple: the election of Prime Minister Narendra Modi and his Bharatiya Janata Party (BJP) party in a landslide victory last May. In sweeping the Indian National Congress from power, Modi's election was hailed as the biggest change in Indian politics since the nation gained independence in 1947.
Read more Click here / www.trade4x.net
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