Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

PowerShares India Portfolio ETF: Correction or Sign of Trouble?

PowerShares India Portfolio ETFLooking overseas, the Indian markets have seen a bit of turmoil lately, proving that, yes, the worldwide recession actually does touch emerging markets. Back in June, there was word that the government of India would work with its central bank to try to prop up the economy there and promote growth, which hasn’t happened in great measure of late.

In very recent trends, the PowerShares India Portfolio ETF (NYSE:PIN) has seen what some would call a correction in the market, as the PowerShares India Portfolio  ETF peaked at about $21 per share in February, but has cratered nearly 25 percent since then, finishing Tuesday’s trading day at $16.31 – though that was up 5 cents on the day (0.3 percent).  The markets in India all were slightly higher Tuesday, with the benchmark  Sensex exchange finished up about 0.2 percent, with other indices also posting similar modest gains.

A couple of key India companies posted their quarterly earnings Tuesday, with Shiram Transport Finance stock finishing 1.3 percent higher after recording 13 percent growth in year-over-year assets under management, despite the net profit falling by more than 7 percent over the same quarter last year. Eclerx posted very encouraging news in its earnings report, as net sales rose more than 20 percent from the prior quarter, operating margin grew to nearly 40 percent and net profit swelled more than 60 percent. That stock rose by more than 11 percent at the end of trading.

The PowerShares India Portfolio ETF essentially mirrors the results of the several markets in India.  The fund has a market cap of $346 million and a daily volume of 453,000 shares.

See this recap of the day’s activities in the India markets and elsewhere.

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.