Indian (SENSEX) stock-index futures advanced after benchmark indexes surged to the highest level in three years yesterday.

SGX CNX Nifty Index futures for October delivery rose 0.4 percent to 6,255 at 10:28 a.m. in Singapore. The contract expires tomorrow. The underlying CNX Nifty (NIFTY) Index soared 2 percent to 6,220.90 yesterday. The S&P BSE Sensex rallied 1.7 percent to its highest level since Nov. 9, 2010. The gauge has increased 8 percent this month, heading for the biggest gain since January 2012. The Bank of New York Mellon India ADR Index of U.S.-traded shares climbed 2 percent yesterday.

The Sensex jumped yesterday after the Reserve Bank of India took steps to boost cash supply for banks while raising its benchmark interest rate to fight inflation. International investors were net buyers of Indian stocks for a 17th straight day on Oct. 28, data showed yesterday. Quarterly profits at 14 of 15 companies in the Sensex that have posted earnings so far this season beat or matched estimates.

“We can see some gains today on the back of the RBI’s measures, strong fund flows and better-than-expected corporate earnings,” said Arun Kejriwal, director at Kejriwal Research & Investment Services Pvt. in Mumbai, said by phone today. “It won’t be a runaway market given it’s the expiry of the futures tomorrow.”

Asian stocks gained today, sending the benchmark MSCI Asia Pacific Index toward its first back-to-back monthly advance since April, amid improving company earnings and with the U.S. Federal Reserve projected to maintain the pace of its monetary stimulus today.

Earnings Reports

Shares of NTPC Ltd. (NTPC), India’s largest electricity generator, may move. The company reported after market hours yesterday that its second-quarter profit fell 21 percent from a year earlier to 24.9 billion rupees ($ 406 million). That beat the 23.4 billion-rupee median estimate of 32 analysts in a Bloomberg survey.

Bharti Airtel Ltd. (BHARTI), India’s largest mobile-phone operator, may say today its quarterly group profit rose 10 percent to 7.92 billion rupees from 7.21 billion rupees a year earlier, according to a Bloomberg survey of 31 analysts.

Shares of Infosys Ltd. (INFO), India’s second-largest software services exporter, may be active. The company said yesterday it’s preparing to pay about $ 35 million to avoid restrictions on its use of U.S. work visas, according to a person with direct knowledge of the talks.

International investors bought a net $ 107 million of local shares on Oct. 28, taking this year’s inflow to $ 15.7 billion, data from the market regulator show. Foreign funds have purchased $ 2.27 billion of local shares this month, adding to inflows of $ 2 billion in September.

The Sensex has climbed 7.7 percent this year and trades at 14.1 times projected 12-month profits, compared with the MSCI Emerging Markets Index’s 10.7 times.

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