The stock market in India crashed recently. The market called the BSE Sensex (Bombay Stock Exchange) crashed from an all-time high of 21206 to 18,242 on Friday. On Jan 22nd, it fell 9.75% nearly 2000 points at the open. The market was halted for an hour and then reopened to recover some 700 points.
Link on Sensex:
http://finance.yahoo.com/q/bc?s=%5EBSESN&t=1y&l=on&z=m&q=l&c=
After making investors happy with returns of 40%,50% in the past few years, the Sensex is now returning back to "normal" levels. The P/E ratio of the Sensex is the highest among emerging markets and the yield is less than 1%. This is pretty low when compared with yields of over 3% in Thailand, Singapore and other Asian countries.
There are many Indian stocks trading as ADRs in the US. A few of them are listed below. As mentioned above due to high volatility and sky high P/E ratios, these stocks may "fluctuate" a lot.So invest after doing some detailed due diligence and tread carefully venturing into the Indian markets.
Indian ADR stocks (IT and other stocks excluded):
1. Dr Reddy's Laboratories - Pharma - RDY
2. HDFC Bank - Banking - HDB
3. ICICI Bank - Banking - IBN
4. Sterlite Industries - Metals - STI
5. Tata Motors - Cars - TTM
