India ETF's & Funds Hold Up After Terror Attacks in Mumbai (PIN, EPI, IIF, IFN, INP)

Fresh terrorist attacks targeted against foreigners in Mumbai, India have failed to thwart a market rally today.  Reports have foreigners being taken hostage at premiere hotels frequented by the wealthy and by business travelers. Some 60 deaths have been reported.  Interestingly enough, this has also failed to take the wind out of the Indian ETF’s and Indian ADR’s which are actively traded in the US. ETF and fund price moves are as follows:

• PowerShares India (NYSE: PIN) up 4.5% at $11.31
• WisdomTree India Earnings (NYSE: EPI) up 4.1% at $10.37
• Morgan Stanley India Investment Fund, Inc. (NYSE: IIF) up 1.4% at $12.39
• India Fund, Inc. (NYSE: IFN) up 4.1% at $17.47
• iPath MSCI India Index ETN (NYSE: INP) up 4% at $28.72

We also added in an after-report list to the ADR’s and active stocks we track that trade in the U.S. to show a broad interest as well.

Jon C. Ogg
November 26, 2008