Indian stock-index futures advanced after the benchmark gauges rose for the first time in six days.

SGX CNX Nifty Index futures for July delivery climbed 0.4 percent to 7,564.5 at 9:48 a.m. in Singapore. The underlying CNX Nifty Index on the National Stock Exchange of India Ltd. rose 1 percent to 7,526.65 yesterday. The S&P BSE Sensex (SENSEX) gained 0.9 percent to 25,228.65. The Bank of New York Mellon India ADR Index of U.S.-traded shares added 0.7 percent to 1,322.89.

The Sensex rebounded from a five-day, 4.2 percent retreat yesterday on speculation central bank Governor Raghuram Rajan may ease monetary policy after India’s consumer prices increased at the slowest pace since January 2012. The gauge’s valuations had climbed to 16 times projected 12-month earnings on July 7, the most expensive since April 2011.

“The recent drop has opened up plenty of opportunities for investors to start getting invested,” Gaurang Shah, vice president at Geojit BNP Paribas Financial Services Ltd., told Bloomberg TV India yesterday.

India’s consumer price index rose 7.31 percent in June compared with the median estimate of 7.7 percent. The inflation rate in May was 8.28 percent.

The Sensex currently trades at a valuation of 15.4 times estimated 12-month profit, compared with the MSCI Emerging Markets Index’s multiple of 11. The Indian stock gauge has surged 19 percent this year and is the best performer among the world’s 10 biggest markets.

International investors have poured $ 11.3 billion into local equities this year, the most in Asia, on expectation Prime Minister Narendra Modi will help spur an economy growing at near the slowest pace in a decade.

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 Phani Varahabhotla, Chan Tien Hin