India outperformed all other emerging market countries within the Russell Emerging Markets Index, with a 4.4% return in the three market days from the May 16 election of Narendra Modi and the conservative Bharatiya Janata Party (BJP) through May 20.
India’s 22.5% return year-to-date as of May 20 is among the leading country components within the Russell Emerging Markets Index.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Russell Investments senior emerging markets portfolio manager Gustavo Galindo:
"As elections have approached in India, we believe the expectation of what could be a more market friendly government has helped equity market performance, with May 16 election results igniting a rally in recent days. We believe Modi’s win has been a positive for the Indian market as measured by Russell index returns, particularly because he did not have to form a coalition government.
"If Modi is successful in introducing proposed changes, India could potentially be poised for a period of strong returns which could bring positive sentiment to emerging markets."
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
