Mukesh Butani, chairman of consulting firm BMR Advisors, said the decision delivered an important critique of India's murky laws in areas such as taxes.

WSJ: Vodafone Overturns Tax Bill in India

Among the largest underlying components of IWN, in trading today National Retail Properties Inc ( NYSE: NNN) is up about 0.6%, NICOR Inc. ( NYSE: GAS) is up about 0.7%, and Biomed Realty Trust Inc ( NYSE: BMR) is higher by about 0.5%.

FORBES: Noteworthy ETF Outflows: IWN, NNN, GAS, BMR