Indian stock-index futures swung between gains and losses after benchmark indexes declined yesterday for the first time in five days.

SGX CNX Nifty Index futures for February delivery were little changed at 6,112 at 10:03 a.m. in Singapore after rising as much as 0.5 percent. The underlying CNX Nifty Index fell 1 percent to 6,091.45 yesterday. The S&P BSE Sensex (SENSEX) lost 0.9 percent. The Bank of New York Mellon India ADR Index of U.S.- traded shares added 1 percent to the highest since Jan. 23.

The MSCI Asia Pacific Index rallied from its biggest loss in two weeks after a larger-than-forecast climb in a measure of U.S. manufacturing tempered concern about global growth. International investors bought a net $ 113.4 million of Indian shares on Feb. 18, the largest daily inflow since Jan. 15, according to data compiled by Bloomberg.

“We expect a positive opening today, in line with global peers,” Arun Kejriwal, a director with Kejriwal Research & Investment Pvt., said by phone from Mumbai today. “Foreign investors have been buying and that’s been a support for the markets.”

Shares of Shree Renuka Sugars Ltd. (SHRS) may be active. Singapore-based Wilmar International Ltd., the world’s largest palm-oil processor, will gain joint control of the Indian company in a deal valued at about $ 200 million, Wilmar said in a statement yesterday.

The Sensex has retreated 3 percent this year and trades at 13.2 times projected 12-month earnings, compared with the average multiple of 14.4 over the past five years. The MSCI Emerging Markets Index is valued at 10.1 times.

Five consecutive days of foreign net share purchases have pared this year’s outflow to $ 40.7 million, data compiled by Bloomberg show. International investors bought $ 20 billion last year, the most in Asia after Japan.

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