NYSE/Euronext has sold its 5% stake in the National Stock Exchange of India to Temasek,a Singaporean sovereign wealth fund,for 150 to 180 million dollars.The stake is part of a growing trend of foreign investment in robustly-growing India.India's central bank said the economy will grow at least 8% in the current fiscal year,which began April 1.
The National Stock Exchange has 1470 listed companies,with a combined market capitalization of about 1.3 trillion dollars as of March 1.NYSE/Euronext had purchased the stake in NSE in January 2007.At the same time,Goldman Sachs had purchased its own 5% of the Indian exchange.
Wisdom Tree Investments offers an India exchange traded fund,EPI,which includes 126 profitable companies,according to the firm.It is a fundamentally weighted fund,meaning allocation to the holdings is determined by their success.
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