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Indian shares were set to open little changed on Tuesday, with the benchmark Nifty 50 hitting a record high in the previous session, ahead of retail inflation data for August.

India's GIFT Nifty on the NSE International Exchange was up 0.06% at 20,130.50 at 8:07 a.m. IST.

The main index Nifty 50 and the S&P BSE Sensex rose in the last seven sessions, adding 3.86% and 3.54%, respectively, after data showed that India's economy expanded at the fastest pace in a year in the June quarter.

The Nifty 50 breached the 20,000 mark for the first time ever on Monday, hitting a fresh record. The Sensex settled 500 points away from the record high hit on July 20.

Investors await India's retail inflation data for August and industrial output figures for July, due post market hours on Tuesday.

Retail inflation likely eased in August, from a 15-month high in July, to 7%, still above the upper end of Reserve Bank of India's target band, as per a Reuters poll of economists.

Foreign institutional investors (FIIs) bought 14.73 billion rupees of shares on a net basis on Monday, while their domestic counterparts bought 3.66 billion rupees of stocks, exchange data showed.

Asian markets were lower ahead of the key macro data from China and the U.S., due later this week. Wall Street equities settled higher overnight, aided by a rally in tech stocks. [MKTS/GLOB]

STOCKS TO WATCH:

** Reliance Industries: KKR raised its stake in unit Reliance Retail, by investing an additional $250 million in a deal valuing the retailer at $100 billion.

** Power Grid Corporation of India: Company declared as successful bidder to establish inter-state transmission system project for power evacuation in Rajasthan.

** Larsen & Toubro: Company increased the buyback price to 3,200 rupees from 3,000 rupees per share, while the number of shares proposed to be bought back has been cut to 31.25 million from 33.3 million.

** NTPC: Company signed deal with Nayara energy for green hydrogen production.

** ICICI Bank: RBI approves re-appointment of Sandeep Bakshi as managing director and chief executive for three years until Oct. 3, 2026.