India’s Nifty Index Futures Little Changed Before Economic Data

Indian stock-index futures are little changed before the release of economic data and company earnings.

SGX CNX Nifty Index futures for February delivery advanced 0.1 percent to 6,105 at 10:32 a.m. in Singapore. The underlying CNX Nifty Index on the National Stock Exchange of India Ltd. fell 0.8 percent to 6,073.70 yesterday. The S&P BSE Sensex (SENSEX) declined 0.7 percent to 20,498.25, a fifth day of losses. The Bank of New York Mellon India ADR Index of U.S.-traded shares rose 1.2 percent to 1,132.83.

The Sensex has slid 3.2 percent this month, poised for its steepest drop since August, after interest-rate increases by emerging-market central banks failed to stem currency declines and the Federal Reserve reduced stimulus. The government will release economic growth data for the year to March 2013 and fiscal deficit figures for December today, while Punjab National Bank, IDFC Ltd. and Marico Ltd. are reporting earnings.

Twelve of the 15 Sensex companies that have reported earnings for the December quarter so far have beaten or matched analyst estimates.

Global investors purchased a net $ 67 million of Indian equities in January, the least in five months, data compiled by Bloomberg show. The Sensex trades at 12.9 times projected 12-month earnings, compared with 9.1 times for the MSCI Emerging Markets Index.

Global investors bought a net $ 42.7 million of domestic shares on Jan. 29. They invested $ 20 billion last year, the most in Asia after Japan, according to data compiled by Bloomberg.

The Reserve Bank of India Jan. 28 unexpectedly increased the policy rate by a quarter-point to 8 percent to curb inflation.

To contact the reporter on this story: Santanu Chakraborty in Mumbai at

To contact the editor responsible for this story: Michael Patterson at

SGX Nifty

You may also like...

Rules of Discussion on India’s Nifty Index Futures Little Changed Before Economic Data

1. This forum is for discussion of financial markets. Please respect others view even if they are contrary to you.
2. Member's comments should lead to value addition in forum discussion.
3. If anyone is found making repetitive Explicit/Abusive/Racial comments, his account shall be banned and old posts will be deleted.
4. Providing Advice/Recommendations/Tips is fine but it should be free. Members cannot ask to be paid for it. Paid Advice is strictly prohibited
5. Spam links are not allowed. Too much promotion or using Contact info in ID will lead to account ban.
IMP : Members are requested to flag any violations to keep Forum Clean.
Note: If old messages appear, it is due to a software bug. Please click the 'Sort By Newest' Button on below right, then first select Oldest & after that Newest. Latest Message will appear. Sorry for this.