Indian stock-index futures fell after the benchmark gauge rose for a fourth week.

SGX CNX Nifty Index (NIFTY) futures for November delivery dropped 0.2 percent to 8,407 as of 11:01 a.m. in Singapore, after advancing as much as 0.2 percent. The underlying CNX Nifty Index on the National Stock Exchange of India Ltd. added 0.4 percent to 8,389.90 Nov. 14, a record high. The S&P BSE Sensex (SENSEX) climbed 0.4 to an all-time high. The Bank of New York Mellon India ADR Index of U.S.-traded shares declined 0.2 percent.

The MSCI Asia Pacific Index (MXAP) fell 0.7 percent today, poised to halt a six-day rally, after Japan’s economy unexpectedly entered recession. The Sensex capped its longest weekly rising streak since Sept. 21 amid optimism easing inflation may encourage the Reserve Bank of India to cut borrowing costs. Its 14-day relative-strength index, measuring how rapidly prices rose or fell during the specified period, was at 71.6 on Nov. 14. Some investors see readings above 70 as a signal to sell.

“With the results season coming to an end, the focus would again shift to global markets, progress on reforms and RBI monetary policy,” Sanjeev Zarbade, vice president of private-client group research at Kotak Securities Ltd.

The RBI has held the benchmark repurchase rate at 8 percent after increasing it three times from September 2013 through January to rein in living costs in Asia’s third-largest economy. The next policy meeting is on Dec. 2.

Oil & Natural Gas Corp. (ONGC), India’s largest energy explorer, may move after reporting its first profit decline in five quarters, as it sold crude oil at a lower price. Second-quarter net income dropped 10 percent in the three months ended Sept. 30, the New Delhi-based company said in a statement after the market close on Nov. 14.

Tata Motors Ltd. (TTMT), the nation’s biggest automaker, posted profit that missed analyst estimates as sales growth at its Jaguar Land Rover unit slowed. Net income fell 7 percent in the quarter ended Sept. 30, the Mumbai-based company said.

The Sensex is valued at 15.6 times projected 12-month earnings, compared with the MSCI Emerging Markets Index’s multiple of 11. Global investors have bought a net $ 15.2 billion of local shares in 2014, the most among eight Asian markets tracked by Bloomberg.

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, Ravil Shirodkar