Indian stock-index futures swung between gains and losses after benchmark indexes climbed to records yesterday.

SGX CNX Nifty Index futures for April delivery lost less than 0.1 percent to 6,834.5 at 10:08 a.m. in Singapore. The underlying CNX Nifty Index gained 0.6 percent to a record 6,817.65 yesterday. The S&P BSE Sensex (SENSEX) also added 0.6 percent to an all-time high. The Bank of New York Mellon India ADR Index of U.S.-traded shares fell 0.3 percent.

HDFC Bank Ltd. (HDFCB) may report today that quarterly profit surged to 23.8 billion rupees ($ 393 million), according to a Bloomberg survey of 28 analysts. All four of the 30 Sensex companies that have reported earnings so far for the three months ended March 31 have either exceeded or matched estimates.

“Fourth-quarter results will dictate market trend,” Nidhi Saraswat, an analyst with Bonanza Portfolio Ltd., wrote in an e-mail yesterday.

International investors bought a net $ 67.6 million of Indian shares on April 17, ending three days of net sales, according to data compiled by Bloomberg. That brought this year’s net inflow to $ 4.8 billion, the second largest among eight Asian markets tracked by Bloomberg, after Taiwan.

The Sensex has climbed 7.5 percent this year and trades at 14.3 times projected 12-month profits. The MSCI Emerging Markets Index has risen 0.9 percent in 2014 and is valued at 10.5 times.

To contact the reporter on this story: Santanu Chakraborty in Mumbai at schakrabor11@bloomberg.net

To contact the editors responsible for this story: Michael Patterson at mpatterson10@bloomberg.net Matthew Oakley, Chan Tien Hin