Indian Stocks Tumble The Most Since March 2020 With Modi's Party Set To Lose Majority
Portfolio Pulse from Piero Cingari
The Indian stock market experienced its largest drop since March 2020 due to predictions that Prime Minister Narendra Modi's coalition will lose its majority in Parliament. The Nifty 50 index fell by 5.9%, and US-based ETFs tracking Indian stocks, such as iShares India 50 ETF (INDY) and Invesco India ETF (PIN), also saw significant declines.
June 04, 2024 | 2:42 pm
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NEGATIVE IMPACT
The iShares India 50 ETF (INDY) dropped by more than 6.6% following the significant decline in the Indian stock market due to political uncertainty.
The ETF tracks the Nifty 50 index, which fell by 5.9%. Political uncertainty is likely to cause further volatility.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
The Invesco India ETF (PIN) fell by 6.7% as the Indian stock market experienced a significant drop due to political uncertainty.
The ETF is heavily influenced by the performance of Indian stocks, which saw a major decline due to political uncertainty.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100