Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

India’s Nifty Futures Rise as Benchmarks Head for Weekly Advance

Aug. 22 (Bloomberg) -- Indian stock-index futures rose as benchmark gauges headed for a second weekly advance.

SGX CNX Nifty Index futures for August delivery added 0.2 percent to 7,919.5 at 9:43 a.m. in Singapore. The underlying CNX Nifty Index gained 0.2 percent to 7,891.10 yesterday. The measure has climbed 1.3 percent this week. The S&P BSE Sensex also increased 0.2 percent. The Bank of New York Mellon India ADR Index of U.S.-traded shares fell 0.6 percent.

The MSCI Asia Pacific Index rose today before Federal Reserve Chair Janet Yellen speaks today at a symposium in Jackson Hole, Wyoming also being attended by European Central Bank President Mario Draghi and Bank of Japan Governor Haruhiko Kuroda. Investors are looking for clues to the timing of U.S. interest-rate increases. Foreign funds were net buyers of Indian stocks for a fifth straight day on Aug. 20, according to data compiled by Bloomberg.

“The market will be watching developments from Jackson Hole for the near term,” Vinod Nair, head of fundamental research at Geojit BNP Paribas Financial Services Ltd., wrote in an e-mail.

Foreign investors bought $50.4 million of Indian shares on Aug. 20, extending this year’s inflow to $12.6 billion, the most among eight Asian markets tracked by Bloomberg.

The Sensex has jumped 25 percent this year and is valued at 15.4 times projected 12-month profits, compared with the MSCI Emerging Markets Index’s multiple of 11.3.

To contact the reporter on this story: Santanu Chakraborty in Mumbai at schakrabor11@bloomberg.net

To contact the editors responsible for this story: Michael Patterson at mpatterson10@bloomberg.net Matthew Oakley, Chan Tien Hin

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.