India’s Nifty Futures Rise, Signaling Stocks May Snap 4-Day Loss
Indian (SENSEX) stock-index futures gained, signaling benchmark indexes may rebound after a four-day slump to a seven-month low.
SGX CNX Nifty Index futures for April delivery rose 0.5 percent to 5,583.5 at 10:54 a.m. in Singapore. A technical issue at the Singapore exchange delayed the opening of derivatives trading. The underlying CNX Nifty (NIFTY) Index lost 0.2 percent to 5,542.95 yesterday, the lowest level since Sept. 13. The S&P BSE Sensex index slid 0.1 percent to its lowest level since Nov. 20. The Bank of New York Mellon India ADR Index of U.S.-traded shares fell 0.3 percent.
Infosys Ltd. (INFO), India’s second-largest software exporter, will report earnings on April 12, marking the start of the reporting season for the March quarter. The government releases industrial production data for February on the same day.
“Investors are keenly waiting for the corporate earnings season,” Kishor Ostwal, managing director of CNI Research (India) Ltd., said by phone yesterday. “Till then we will see a sideways market.”
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