Indian (SENSEX) stock-index futures rose after the benchmark gauge rallied to a five-week high yesterday.

SGX CNX Nifty Index futures for January delivery added 0.3 percent to 6,346.0 at 9:36 a.m. in Singapore. The underlying CNX Nifty (NIFTY) Index on the National Stock Exchange of India Ltd. rose 1.3 percent to 6,320.90 yesterday. The S&P BSE Sensex gained 1.2 percent to 21,289.49. The Bank of New York Mellon India ADR Index of U.S.-traded shares rose 0.3 percent to 1,187.91. Axis Bank Ltd. (AXSB), Tata Consultancy Services Ltd. (TCS), Bajaj Auto Ltd. and HCL Technologies Ltd. (HCLT) report earnings today.

The Sensex rallied yesterday after data showed inflation slowed more than economists estimated in December, giving the central bank scope to keep interest rates on hold for a second consecutive meeting later this month. Reserve Bank of India Governor Raghuram Rajan left the main rate unchanged at 7.75 percent on Dec. 18, saying the bank is awaiting more data. His next review is due Jan. 28.

“With the economic data already in, focus will shift to the quarterly results and the RBI policy meeting towards the end of the month,” Dipen Shah, head of private client group research at Kotak Securities Ltd., said by e-mail.

Axis Bank may report profit of 15 billion rupees ($ 244 million) for the quarter ended Dec. 31, according to the median estimate of 46 analysts in a Bloomberg survey.

Tata Consultancy Services, the country’s largest software exporter, may post profit of 51.4 billion rupees, a another survey showed.

Global investors bought a net $ 28 million of local shares on Jan. 13 and 14, data from the market regulator show. They invested $ 20 billion last year, the most in Asia after Japan, according to data compiled by Bloomberg. Net purchases in 2012 were $ 24.6 billion, the data show.

The Sensex has risen 0.6 percent so far this year. It climbed 9 percent in 2013, capping the best annual gain among the four-largest emerging markets, and trades at 13.3 times projected 12-month earnings, compared with the MSCI Emerging Markets Index’s 10 times.

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