Indian stock-index futures gained after benchmark indexes declined for a fourth day yesterday to a two-week low.

SGX CNX Nifty Index futures for June delivery rose 0.3 percent to 7,531.5 at 9:48 a.m. in Singapore. The contract expires on June 26. The underlying CNX Nifty Index fell 0.2 percent to 7,493.35 yesterday, the lowest close since June 5. The S&P BSE Sensex (SENSEX) declined 0.3 percent. The Bank of New York Mellon India ADR Index of U.S.-traded shares added 0.1 percent.

India’s government will present its first federal budget on July 10, with Prime Minister Narendra Modi saying he’s prepared to take unpopular steps to improve the nation’s economy and fiscal health. Growth is holding near a decade low and retail inflation has averaged about 10 percent in the past two years.

“The markets will be looking forward to the union budget and its likely measures to invigorate growth, reduce inflation and correct the fiscal deficit,” Sanjeev Zarbade, vice president for private-client group research at Kotak Securities Ltd., wrote in an e-mail yesterday.

Larsen & Toubro Ltd. (LT), India’s largest engineering and construction company in India, may be active. Canada Pension Plan Investment Board purchased a minority stake in a unit of Larsen & Toubro for $ 166 million, the fund said in a statement yesterday.

The Sensex has surged 18 percent this year, the best performer among the world’s 10 biggest markets, and trades at 15.4 times projected 12-month profits, compared with an average of 14.5 over the past five years.

Overseas investors sold a net $ 35 million of Indian shares on June 20, paring this year’s inflows to $ 9.87 billion, the most among eight Asian markets tracked by Bloomberg.

To contact the reporter on this story: Rajhkumar K Shaaw in Mumbai at rshaaw@bloomberg.net

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