Global markets have started the day on a mixed note as investors keenly awaited the U.S. inflation report due Wednesday for clues on Federal Reserve interest rate trajectory.
Headline consumer price inflation is expected to slow to 1.9 percent a year, with core inflation at 1.7 percent, Reuters reported.
MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.2 percent. U.S. stocks ended in the green on Tuesday.
Back home, SGX Nifty, an early indicator of the Nifty 50's trend in India, signals a strong start for the domestic markets after the benchmark Sensex jumped 294 points to close at 34,300 on Monday. Indian financial markets were shut on Tuesday for a public holiday.
The Indian rupee ended at 64.32 per dollar on Monday compared with the previous week's close of 64.40 per dollar.
Economic data: Retail inflation slightly eased to 5.07 percent in January from a 17-month high in December but remained above the central bank's medium-term target of 4 percent. Separately, industrial output grew 7.1 percent in December compared with 6.2 percent forecast in a Reuters poll.
Oil demand: Oil consumption in India rose 10.3 percent in January, its fourth straight monthly gain, powered by the improvement in road freight transport coupled with growing use of cars and scooters.
Earnings: Sun Pharmaceutical Industries, Allahabad Bank, Jet Airways, Tata Power, Nestle India, Godrej Industries and Grasim Industries.