India’s Nifty Futures Decline Before Inflation, Factory Data

Indian stock-index futures dropped before the government releases monthly data on inflation and industrial output today.

SGX CNX Nifty Index (NIFTY) futures for January delivery fell 0.2 percent to 8,295.5 at 10:28 a.m. in Singapore. The underlying CNX Nifty Index on the National Stock Exchange of India Ltd. rose 0.6 percent to 8,284.50 on Jan. 9. The S&P BSE Sensex (SENSEX) added 0.7 percent to 27,458.38. The Bank of New York Mellon India ADR Index of U.S.-traded shares rose 1.1 percent to 1,482.56.

Data may show the nation’s consumer price index increased 5.3 percent in December from a year earlier, according to a Bloomberg survey. In November, the measure rose at the slowest pace since early 2012, when the gauge was created.

“Investors will be tracking key economic data,” Jayant Manglik, president of retail distribution at Religare Securities Ltd., said by e-mail on Jan. 9. “As the earnings season has begun, it’s not going to be an easy task especially for the traders to make money, due to excessive news flow and events taking place simultaneously.”

Industrial production in November probably grew 2.4 percent from a year earlier, according to the median estimate of 26 economists in a Bloomberg survey. The gauge fell the most in three years in October.

Global investors sold a net $ 61.9 million of local shares on Jan. 8, taking this month’s net outflows to $ 351.6 million, data compiled by Bloomberg show. Foreign investors had bought $ 16 billion of stocks last year.

The Sensex is valued at 15 times projected 12-month earnings, compared with the MSCI Emerging Markets Index’s multiple of 11.2.

To contact the reporter on this story: Rajhkumar K Shaaw in Mumbai at

To contact the editors responsible for this story: Michael Patterson at Chan Tien Hin, Richard Frost

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