But once it starts to pour back into Asian stocks, India, I believe, will be among the first beneficiaries.
India's high-flying stocks suffered their second big drop in a year, although, as before, they have recovered.
As of 2009, the two most prominent ETFs based on Indian stocks are the WisdomTree India Earnings Fund ( EPI) and the PowerShares India Portfolio Fund ( PIN).
Stimulus programs in the U.S., Europe and Japan have increased the availability of cash globally and part of that has been flowing into emerging economies like India, helping their currencies to strengthen and stocks and bonds to gain.
Indian banking stocks surged after Moody's unified India's foreign and local currency government bond ratings at Baa3 and left ratings of government-related issuers unchanged.
"In India there are 4, 000 places where you can trade stocks, " says Sanjiv Shah, the executive director of Benchmark.
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India ETFs mostly make investments in indexes made up of Indian stocks.
Shares of Novartis India fell almost 5% on the Bombay Stock Exchange, while stocks of generic drugmakers such as Cipla and Natco rose after the judgement.
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The team is finding India, Brazil and Indonesia to be the most fertile spots for stocks, and most of the picks are in the discretionary consumer spending, financial services and manufacturing sectors.
NASDAQ. (Trading is much heavier in Turkey, Thailand and India, where turnover ratios exceed 100%.) In Mexico the buying and selling of just eight stocks accounted for almost two-thirds of all trades in 2004.
Between 2001 and 2007, BRIC stocks soared, more than doubling in China and rising 369% in Brazil and 499% in India.
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