India ETFs have been riding high lately and hovering around a 52-week high. First Trust India Nifty 50 Equal Weight ETF (NFTY – Free Report) is up about 17% this year, while iShares MSCI India ETF (INDA – Free Report) has advanced about 11.8%. India’s stocks have advanced lately, thanks to dovish commentary from a U.S. Federal Reserve official that boosted bets of rate cuts by as early as March 2024.
But apart from Fed hopes, Bharatiya Janata Party’s election win should also boost the India market in the near term. Let’s delve a little deeper.
BJP’s State Election Win
India’s stock markets have experienced a significant surge this month following the Bharatiya Janata Party’s (BJP) victory in three out of four major state elections. This electoral success has been met with positive reactions in the equity markets, with 27 out of the 30 Sensex…