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Buildings are reflected on the glass windows of the NSE (National Stock Exchange) building in Mumbai, India, December 27, 2016.Reuters file

Global markets have started the week on a jittery note as investors continued to fret about the looming U.S. interest rate hikes.

MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.1 percent on Monday after a tumultuous last week. U.S. stocks ended their worst week in two years in the green on Friday.

Back home, SGX Nifty signals a positive start for the Indian markets after the benchmark Sensex shed 407 points to close at 34,006 last week.

The rupee ended at an eight-week low of 64.39 per dollar on Friday compared with the previous week's close of 64.05 per dollar.

Economic data: Key economic indicators such as December IIP, January CPI and WPI inflation data are due this week. The industrial production data for December 2017 and consumer price index for January will be out on Monday followed by WPI data on Wednesday.

Earnings: Companies announcing their results in the coming week include Bank of India, Britannia Industries, GAIL and Tata Power.

IPO Watch: Aster DM Healthcare IPO opens on Monday with an issue price of Rs 180-190 per equity share.

"Markets have moved to a sell on rally mode. One should start nibbling only in those stocks where valuations have become attractive," according to Mumbai-based market expert Ambareesh Baliga.