Indian stock-index futures gained after benchmark indexes climbed to a one-month high and net foreign inflows into the nation’s shares turned positive for this year.

SGX CNX Nifty Index futures for February delivery rose 0.4 percent to 6,222 at 9:59 a.m. in Singapore. The underlying CNX Nifty Index gained 0.5 percent to 6,186.10 yesterday, the highest close since Jan. 24. The S&P BSE Sensex (SENSEX) increased 0.5 percent. The Bank of New York Mellon India ADR Index of U.S.- traded shares climbed for a third day, adding 1.1 percent.

International investors bought $ 98.8 million of Indian shares on Feb. 21, data compiled by Bloomberg show, turning this year’s net flows positive for the first time since Jan. 30. Indian derivatives contracts for February expire tomorrow.

“After consolidating at lower levels for quite some time now, the Nifty is giving positive indicators,” Nidhi Saraswat, analyst at Bonanza Portfolio Ltd., wrote in an e-mail. “However, the market may continue to face volatility before the derivatives expiry.”

Shares of consumer-discretionary companies may be active. R. Srinivasan, who manages India’s best-performing equity fund in the past five years, is buying consumer companies as revenue grows more than three times faster than the broader market, according to an interview yesterday.

Srinivasan, who owns shares of Page Industries Ltd., Redington (India) Ltd. and Westlife Development Ltd., says consumer stocks stand to gain from rising incomes and an expanding middle class.

The Sensex has retreated 1.7 percent this year and trades at 13.4 times projected 12-month earnings, compared with the average multiple of 14.5 over the past five years. The MSCI Emerging Markets Index is valued at 10.2 times.

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