India's GDP Report Beats Expectations; Check Out These ETFs (INDY, EPI, PIN)
India's GDP grew by 7.9% in the third quarter, far outpacing expectations for 6.3% growth. It was the best GDP report in six quarters from India, Asia's third-largest economy.
There are several ETFs that might be good trades on the back of this news. The PowerShares India Portfolio (NYSE: PIN) tracks 50 stocks in the Indus India Index. Volume is decent at just over 262,000 shares a day.
The iPath MSCI India Index ETN (NYSE: INP) has more than double the daily volume of PIN and tracks the 68 largest Indian stocks, making it a prime candidate to move on the GDP news.
The iShares S&P India Nifty Fifty Index Fund (Nasdaq: INDY) is a new member of the India ETF club and could also be worth a look.
The most liquid of the India ETFs is the WisdomTree India Earnings ETF (NYSE: EPI). EPI will certainly be in play due to the GDP report.
Overall, EPI and INP are probably the two best ways to play this news due to their average daily trading volumes.
