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India’s equity-index futures fluctuate ahead of inflation data

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by April 12, 2016 General

Brokers trade at their computer terminals at a stock brokerage firm in Mumbai January 7, 2015.— Reuters picBrokers trade at their computer terminals at a stock brokerage firm in Mumbai January 7, 2015.— Reuters picMUMBAI, April 12 — Indian equity-index futures swung between gains and losses after the benchmark gauge rebounded from its worst week in two months and investors awaited monthly inflation and industrial data.

SGX Nifty Index futures for April delivery rose less than 0.1 per cent to 7,697 at 9:41am in Singapore. They earlier slid as much as 0.4 per cent. The underlying Nifty 50 Index rallied 1.5 per cent to 7,671.40 yesterday, while the S&P BSE Sensex jumped 1.4 per cent. The Bank of New York Mellon India ADR Index of US-traded shares added 0.7 per cent.

Consumer prices may have risen 5 per cent from a year earlier in March, from 5.2 per cent in February, a Bloomberg survey showed before government data due today. The central bank cut its key interest rate to a five-year low this month and said it would look for more room to ease as it watches monsoon rains.

Industrial production may have expanded 0.6 per cent from a year earlier in February, compared with a 1.5 per cent decline in January, according to another survey.

Global funds sold US$161 million (RM625.3 million) of Indian shares last week after ploughing US$4.1 billion in March. The Sensex posted its steepest monthly advance since January 2012 as a government pledge to further pare the fiscal gap and speculation of a rate cut spurred capital inflows.

The stock index trades at 15.5 times 12-month projected profits versus 11.7 for the MSCI Emerging Markets Index. — Bloomberg

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