India ETFs: Investors pour into India ETFs ahead of election result
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Investors poured money into exchange-traded funds that buy stocks of Indian companies, powering one of the year’s most popular trades yet again as recent exit polls predict Prime Minister Narendra Modi will win a third term on Tuesday. India recorded the biggest inflow across emerging markets for the week ended May 31 — of $307.5 million — led by iShares MSCI India ETF (ticker INDA). While the fund garnered $192.9 million, the WisdomTree India Earnings Fund (EPI) pulled in $82.6 million.The South Asian nation will announce election results Tuesday, though markets already expect Modi, a more market-friendly politician, to secure a third-term victory. Exit polls released Saturday predicted a landslide victory for Modi’s Bharatiya Janata Party and its allies. If Modi secures another win, markets expect the government to push through policies that could further boost India’s economic growth, which is already among the world’s fastest, said As...