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 Indian shares are on track to open higher on Monday, with the benchmark Nifty index set to touch a record high on sustained domestic inflows, while Asian peers were off to a muted start ahead of key U.S. inflation reading.

The GIFT Nifty was trading at 22,641.50, as of 0757 a.m. IST, indicating that the Nifty 50 will open above Thursday's close of 22,493.55.

The Nifty 50 and BSE Sensex indexes rose nearly 0.6% each last week, extending gains to a fourth week, their longest winning streak in three months. Both indexes hit record highs in the previous two sessions.

Faster-than-expected macroeconomic growth data, sustained domestic inflows and hopes of policy continuity have aided the rally, according to analysts.

India's equity mutual inflows rose in February to their highest levels in 23 months, data showed on Friday, with small-caps leading the charge despite valuation concerns.

Both foreign portfolio investors (FPIs) and domestic institutional investors (DIIs) were net buyers of Indian shares on Thursday, purchasing 73.04 billion rupees (~ $883 million) and 26.02 billion rupees, respectively.

India's consumer price inflation is forecast to have edged down to a four-month low in February on moderating food price rises, according to a Reuters poll of economists. The data is expected to be released after market hours on Tuesday.

Asian markets were subdued ahead of a key U.S. inflation reading that could influence the timing of Federal Reserve rate cut. [MKTS/GLOB]

STOCKS TO WATCH

** Vedanta: Market regulator issued administrative warning in respect to publishing information related to its unlisted ultimate holding company.

** GAIL, Oil and Natural Gas Corporation: GAIL, ONGC and Shell Energy signed a tripartite deal to explore ethane import.

** Interglobe Aviation: The company's co-founder Rakesh Gangwal is likely to sell airline's shares worth $450 million, according to reports.

** Torrent Power: The company received a letter of award worth 15.40 billion rupees from Maharashtra State Electricity Distribution to set up solar PV projects.

($1 = 82.7520 Indian rupees)