Indian (SENSEX) stock-index futures gained, signaling benchmark indexes may extend their biggest rallies in two weeks.

SGX CNX Nifty Index futures for July delivery rose 0.5 percent to 5,970.5 at 10:29 a.m. in Singapore. The underlying CNX Nifty (NIFTY) Index surged 2 percent yesterday to 5,935.10, its highest level since June 3. The S&P BSE Sensex advanced 2 percent to 19,676.06. The Bank of New York Mellon India ADR Index of U.S.-traded shares jumped 3.8 percent to 1,004.09.

The Nifty and the Sensex climbed yesterday by the most since June 28 after Federal Reserve Chairman Ben S. Bernanke said the U.S. economy will continue to need stimulus. Infosys Ltd. (INFO), India’s second-largest software services provider, is due to report earnings for the June quarter today, the first Sensex member to do so.

“The mood for today’s trading will be set be the Infosys result,” Arun Kejriwal, director at Kejriwal Research & Investment Services, said by phone from Mumbai today. “Some of the concerns on liquidity have eased after the Fed’s comments.”

Consumer price inflation and factory output data are due after markets close today. Industrial production probably grew 1.5 percent in May, the slowest pace in three months, a Bloomberg survey of economists showed.

Indian companies’ sales growth is declining in an economy that expanded last quarter at near its slowest pace since 2009. Revenue for the 30 Sensex companies may have increased 3.8 percent from a year earlier in the three months ended June, the least in 16 quarters, according to Deutsche Bank AG.

Infosys Sales

“Revenue growth in aggregate is showing signs of deceleration continuously and that remains a cause of concern,” Vetri Subramaniam, who oversees $ 2.3 billion in assets as chief investment officer at Religare Invesco Asset Management Co. in Mumbai, said in a phone interview yesterday.

Infosys may move. The company is expected to forecast sales in dollar terms will rise as much as 7.5 percent in the year to March, compared with its earlier projection for as much as 10 percent growth, according to the median of 10 analysts in a Bloomberg survey.

Global investors have bought a net $ 174 million of domestic shares this month through July 10, after selling $ 1.8 billion in June, which was the most since August 2011, data compiled by Bloomberg show. International investors bought $ 12 million of local shares on July 10, taking this year’s inflows to $ 13.5 billion.

The Sensex has gained 1.3 percent this year and trades at 13.2 times projected 12-month earnings, compared with the MSCI Emerging Markets Index’s 9.9 times.

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