Indian shares look set to open a tad lower on Wednesday after August CPI inflation and July IIP data painted a sluggish picture of the economy.
Industrial production remained subdued as output grew by a mere 1.2 percent in July as against 4.5 percent growth in July last year.
IIP growth for June has also been revised downwards to minus 0.2 percent from minus 0.1 percent.
Retail inflation in August accelerated for a second straight month to reach 3.36 percent after a 2.36 percent increase in July, driven by higher food and petrol prices.
Asian stocks are trading mixed this morning despite a stronger lead from Wall Street overnight after U.S. Treasury Secretary Steven Mnuchin said the Trump administration was "super focused" on getting tax reform done by the end of the year.
Treasuries held on to declines while the dollar retained overnight gains ahead of U.S. inflation data, due later this week. Oil prices rose after data showed OPEC oil production fell for the first time since March.
Also, speculation is rife that OPEC and its allies are discussing an extension of output curbs by more than three months.
U.S. stocks rose for a second straight session Tuesday as hopes of tax reform helped lift financials and tech stocks also gained ground amid Apple's highly-anticipated product launches. All three major indexes rose about 0.3 percent.
European markets closed mostly higher on Tuesday, although the U.K. markets fell slightly as the pound surged after the release of strong U.K. inflation data. The pan-European Stoxx Europe 600 index rose half a percent to extend gains for a fifth day.
Back home, firm global cues helped benchmark indexes Sensex and the Nifty end up around 1 percent on Tuesday while the rupee closed marginally lower against the dollar before the release of macro data.
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