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iPath MSCI India Index ETN (INP)

  • Apr. 16, 2012, 4:47 AM
    India's inflation slowed less than expected, rising 6.89% in March after a 6.95% rise in February, but a marked drop in manufacturing prices is sustaining hope of a possible rate cut from the Reserve Bank of India tomorrow.
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  • Apr. 12, 2012, 11:08 AM
    The RBI is expected to launch the first rate-cutting cycle in India in 3 years at its April 17 meeting, but a 25 basis point move would be little more than symbolic, argues Jeff Glekin. With the central government in "policy meltdown," it's up to the central bank to go for bold stimulus with aggressive rate cuts. EPI +23% YTD, but -21% Y/Y.
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  • Apr. 12, 2012, 3:40 AM
    India's industrial production grew a slower-than-expected 4.1% in February as consumer durables and consumer goods contracted. January's figure was revised down sharply, to 1.14% from 6.8%, because of an apparent error in sugar production data.
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  • Apr. 9, 2012, 7:32 AM
    Only 1.2% of Indian household savings are directly invested in shares, writes Nitin Rao - amounting to a "laughable figure" of $2.5B. There are just 20M stock trading accounts and 248 portfolio managers in a country of 1.2B. For those who believe the biggest moves in emerging markets come at the "moment of discovery and floodtide of liquidity," India may offer some interest, writes Josh Brown.
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  • Mar. 30, 2012, 11:59 AM
    India's current account deficit in 2011's final quarter hit $19.6B, a near doubling from 2010 (nice visual here). "The trade deficit widened and capital inflows fell far short of financing requirement, resulting in significant drawdown of fx reserves," says the RBI. Indian shares last night, +2%. EPI +2.7%.
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  • Mar. 27, 2012, 12:29 PM
    Fidelity is unloading its mutual fund business in India, unable to make money after 8 years despite industry assets there that have boomed to $134B. "It's a very worrying sign that a player like Fidelity is getting out," says a Morningstar analyst. To blame are the company's high pay structure and marketing costs, along with volatile stocks that have investors moving to bond funds.
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  • Mar. 23, 2012, 3:48 AM
    India's central bank is moving toward a looser monetary policy, says deputy governor Subir Gokarn, though he's not sure yet when that will happen or at what pace.
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  • Mar. 21, 2012, 7:16 AM
    Opining on everything, everywhere, the IMF gives the thumbs up to India's budget for threading the needle between trying to save money while increasing spending. The budget targets a deficit/GDP ratio of 5.1% vs. 5.9% last year. In the midst of 1-month slump, the Sensex +1.7% overnight.
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  • Mar. 20, 2012, 6:40 AM
    India's central bank has room to cut rates if commodity prices fall, says RBI deputy governor Subir Gokarn.
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  • Mar. 16, 2012, 7:08 AM
    Indian shares reverse big gains to close sharply lower (-1.2%) after the finmin proposes a budget with a raft of tax hikes, but no real reform. Hoping for a big reduction or even scrapping of an equity transactions tax, investors got just a nominal cut. Budget-busting subsidies for fertilizer, food, and oil remain. EPI +29.6% YTD.
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  • Mar. 15, 2012, 3:44 AM
    The Reserve Bank of India keeps its repurchase rate at 8.5%, as expected, after inflation accelerated. RBI reiterates that future actions will be toward lowering rates, though remaining inflation risks "will influence both the timing and magnitude of future rate actions.”
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  • Mar. 14, 2012, 4:21 AM
    India's headline inflation edged up to +6.95% in February from a year earlier, ticking up for the first time in 5 months on higher food prices. Economists had expected +6.79%. India's central bank meets tomorrow and is widely expected to hold rates steady
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  • Mar. 12, 2012, 3:31 AM
    India's industrial production rose 6.8% in January from a year earlier, the fastest pace in seven months and significantly higher than the +2% expected. December's figure was revised up to +2.5% from +1.8%. However, economists doubt the sustainability of this high IP growth, as it was driven by a thus far inexplicable 92.6% jump in the food and beverage sector.
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  • Mar. 9, 2012, 9:45 AM
    India's 75 basis point CCR cut - sharper than the expected 50 bps and coming several days ahead of a central bank policy meeting - raises expectations the bank could cut its benchmark rate next week. A slowing economy and falling inflation have rate cuts on the agenda, but few had expected them to start in March. EPI +2.2%.
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  • Mar. 6, 2012, 4:53 AM
    India’s ruling Congress party is trailing as votes are counted in two key northern states; voters "have punished Congress for corruption and high inflation," says analyst Satish Misra. The results of the elections could impede PM Singh's ability to accelerate policy changes as growth moderates. BSE Sensex -1.1%.
  • Feb. 29, 2012, 2:19 AM
    India's GDP rose 6.1% in Q4, the slowest pace in more than two years as domestic demand weakened and the global recovery faltered. India has raised rates to the highest level since 2008 to fight inflation, but may need to lower rates now to spur growth.
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INP Description
The iPath® MSCI India IndexService Mark ETNs are linked to the MSCI India Total Return IndexService Mark (the "Index"). The Index is a free-float-adjusted market capitalization index designed to measure the market performance, including price performance and income from dividend payments, of Indian equity securities. The Index seeks to represent approximately 85% of the free-float-adjusted market capitalization of equity securities by industry group within India. As of September 30, 2009, the Index was comprised of 60 companies listed on the National Stock Exchange of India (the "NSE").
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Country: India
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