The BSE Sensex rose 0.3% in early trade on Tuesday, with banks leading the rise, taking cues from strong Asian markets.
At 9:17 a.m. (0347 GMT), the 30-share BSE index was up 0.32% at 18,324.92 points, with 26 components advancing. The 50-share NSE index was up 0.4% at 5,502.75.
Financials such as State Bank of India, ICICI Bank and HDFC Bankwill be in focus as the data would provide cues on the Reserve Bank of India's (RBI) rate decision on Thursday.
The wholesale price index is expected to have risen 8.70% in May from a year earlier, up slightly from the previous month, thanks to rising food and fuel prices, a Reuters poll showed.
Economists expect the RBI to continue with its hawkish view as it attempts to control rising inflation.
Top mortgage lender Housing Development Finance Corp will be on the radar after sources said Citigroup has decided to reduce its stake in the firm to about 10% from 11.4% via stock market deals.
The MSCI's measure of Asian markets other than Japan was up 0.9% by 0304 GMT, while Japan's Nikkei rose 0.2%.
The Nifty India stock futures in Singapore were up 0.1%.
On Monday, the 30-share BSE index closed barely changed at 18,266.03 points.
STOCKS TO WATCH
* Tata Communications after the telecoms firm said it had increased its effective holding in South Africa's second-biggest fixed-line phone operator Neotel to 61.5% from 49%.
* Oricon Enterprises Ltd after the firm said it had alloted 2.2 million shares to Clearwater Capital.
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