India’s Nifty Futures Gain a Second Day in Singapore on Poll
May 19 (Bloomberg) -- India’s stock index futures climbed 4.4 percent in Singapore, extending record gains yesterday on speculation the ruling party’s election victory will advance reforms to boost economic growth.
The SGX CNX Nifty Index futures for May 2009 delivery rose 190 points to 4,560 at 9:56 a.m. in Singapore today, after rising 19 percent yesterday. The contract is derived from the 50 stocks on the underlying S&P CNX Nifty Index on the National Stock Exchange of India Ltd.
The benchmark Sensitive Index, or Sensex, yesterday jumped 17 percent on the Bombay Stock Exchange, bonds rose and the rupee gained the most in two decades after Prime Minister Manmohan Singh’s Congress Party won the nationwide elections. Share trading was halted for the first time ever after the Sensex breached a daily limit set by the market regulator.
To contact the reporter on this story: Chen Shiyin in Singapore at
