India’s Futures Rollover Below Six-Month Average Before Fed Meet
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Indian traders extended fewer CNX Nifty Index futures than the average rate over a six-month period as they await the Federal Reserve’s policy meeting for direction.
The rollover rate in Nifty July futures, due to expire on Thursday, was at 36 percent, according to data available at 3:41 p.m. in Mumbai. That compares with a six-month average of 41 percent, according to data compiled by Bloomberg. Outstanding Nifty futures contracts totaled 17.71 million, the highest since at least February, data show. The India VIX Index, a measure of options costs, fell 2.8 percent to 15.92.