Indian Stock Futures Rise as Modi Secures Coalition Support [Yahoo! Finance Canada]
OVERSEAS CHINSE UNSP/ADR (OVCHY)
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Source: Yahoo! Finance Canada
Most Read from Bloomberg June contracts on the benchmark NSE Nifty 50 Index advanced as much as 1% on Thursday, signaling Indian stocks may continue to retrace their election-related losses. The gauge is less than 3% away from achieving that feat after Wednesday's rebound. Offshore Indian rupee non-deliverable forwards were steady. ADVERTISEMENT After losing its majority in the parliamentary elections, Modi's Bharatiya Janata Party was forced to hold coalition talks. Leaders of the the BJP-led National Democratic Alliance, including Nitish Kumar of the Janata Dal (United) and N. Chandrababu Naidu of the Telugu Desam Party, agreed to back Modi after reaching an accord in New Delhi on Wednesday. Modi has never shared power since taking office in 2014, and now he may need to make concessions to alliance partners, such as offering them important cabinet positions, to keep their support. A weak Modi-led coalition government will make it harder for him to push through strong econom
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