There are numerous Indian stocks trading as ADRs (American depositary receipts) on the NYSE and NASDAQ. Worth taking a look at.
Following the Congress Party decisive victory in India's election, with the most seats since 1991 and no longer needing communist partners in the coalition, the Bombay Stock Exchange, founded in 1875, halted trading within seconds of the market’s opening at 9:55 am local time as shares surged. For the first time ever, after the trading resumed at 11:55 am stocks jumped further, triggering an automatic shutdown for the rest of the day.
India's economy quadrupled in size since 1991 as a result of free-market reforms. Asia's third-biggest economy expanded 5.3 percent in the quarter through Dec. 31, the slowest pace since 2003, while factory output in March shrank the most in 16 years.
Still, a caveat. Although India will benefit from a large amount of capital flowing into the country, Credit Suisse Group said in a report,
the rally may be halted by global markets, monetary and fiscal constraints, and data disappointment.