<input name="qty" type="text" class="input-text qty" id="qty" maxlength="12" value="<?php echo $this->getMinimalQty($_product) ?>" />
<select class="input-text qty" name="qty" id="qty">
<?php $i = 1 ?>
<?php do { ?>
<option value="<?php echo $i?>">
<?php echo $i?>
<?php $i++ ?>
</option>
<?php } while ($i <= (int)Mage::getModel('cataloginventory/stock_item')->loadByProduct($_product)->getQty()) ?>
</select>
// ————————————————–OR————————————————–
// This code shows the “Maximum Qty Allowed in Shopping Cart”.
<select class="input-text qty" name="qty" id="qty">
<?php $i = 1 ?>
<?php do { ?>
<option value="<?php echo $i?>">
<?php echo $i?>
<?php $i++ ?>
</option>
<?php } while ($i <= (int)Mage::getModel('cataloginventory/stock_item')->loadByProduct($_product)->getMaxSaleQty()) ?>
</select>