India’s Nifty Stock-Index Futures Fall Before Manufacturing Data

Indian stock-index futures fell before a private report on manufacturing in Asia’s third-largest economy.

SGX CNX Nifty Index futures for February delivery declined 0.5 percent to 6,075.5 at 11:01 a.m. in Singapore. The underlying CNX Nifty Index on the National Stock Exchange of India Ltd. rose 0.3 percent to 6,089.50 on Jan. 31. The S&P BSE Sensex (SENSEX) gained 0.1 percent to 20,513.85, snapping five days of losses. The Bank of New York Mellon India ADR Index of U.S.- traded shares lost 0.9 percent.

The Sensex retreated 3.1 percent in January, the biggest monthly decline since August and the worst start to a year since 2011. A manufacturing gauge for January compiled by HSBC Holdings Plc and Markit Economics is due today, after the measure for China pointed last week to the first contraction in six months. India’s 2013 economic growth was revised down to 4.5 percent from an earlier estimate of 5 percent, the Central Statistics Office said on Jan. 31.

“We think that the markets in the first half of 2014 will be turbulent,” Vaibhav Sanghavi, a director at Ambit Investment Advisors Pvt., said by e-mail.

Tata Chemicals Ltd. (TTCH) and Lupin Ltd. (LPC) are among companies scheduled to report earnings today. Fourteen of 18 Sensex companies that have released results for the December quarter beat or matched analyst estimates.

Jet Airways (India) Ltd. (JETIN) may move. United Airlines will suspend a marketing agreement with the Indian carrier after U.S. regulators cut the Asian nation’s aviation-safety ranking for the first time.

Global investors sold a net $ 29.4 million of Indian shares on Jan. 30, data from the regulator show. They invested $ 20 billion last year, the most in Asia after Japan, according to data compiled by Bloomberg.

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 Stock-Index Futures Fall Before Manufacturing 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.