India's GIFT Nifty was trading at 21,762.50 as of 8:02 a.m. IST, suggesting the NSE Nifty 50 will open near its close of 21,710.80 points on Friday.

The MSCI's broadest index of Asia-Pacific shares outside Japan barely changed, having retreated 2.5% last week. [MKTS/GLOB]

The Nifty, however, dipped 0.09% last week as the Indian benchmark index continued to hover near record levels as investors await corporate reports to see if results justify valuations and for cues on the future path of U.S. monetary policy.

"We expect markets to witness further consolidation before taking cues from the upcoming earnings season," said Siddhartha Khemka, head of retail research at Motilal Oswal Financial Services.

"Healthy pre-quarterly business updates indicate the likelihood of continuation of earnings growth momentum in December quarter."

Foreign institutional investors bought shares worth 16.97 billion rupees (about $204 million), on a net basis, on Friday, while domestic investors sold a net 34.98 billion rupees of shares, according to exchange data.

STOCKS TO WATCH:

** Titan: The jeweller and watchmaker posted a 22% revenue growth in the third quarter.

** Tata Steel: India's crude steel production rose 6% in December quarter, data showed.

** Adani Wilmar, Marico: The consumer companies said revenue declined in the December quarter due to lower demand and selling prices.

** Life Insurance Corporation of India: The company got a tax demand notice for 1.91 billion rupees. ($1 = 83.0760 Indian rupees)

(Reporting by Bharath Rajeswaran in Bengaluru; Editing by Savio D'Souza)