Modi rally: A man looks up at an electronic ticker board that indicates stock figures at the Bombay Stock Exchange in Mumbai. The Nifty reached a record about two weeks ago after Prime Minister Narendra Modi’s resounding victory in state elections was taken as a referendum on his economic policies. – Bloomberg
MUMBAI: Traders are paying less than average to roll futures contracts tied to an index of India’s top 50 companies after the recent rally pushed equity valuations to a six-year high.
The roll cost, or the price to replace March futures with April securities, was 39 basis points for the NSE Nifty 50 Index contracts at 12.08pm in Mumbai. That compares with the mean of 47 basis points one day before the past six expirations, data compiled by Bloomberg show.
Limited time offer:
Just RM5 per month.
