India's NSE stock futures, listed on the Singapore exchange, were 0.55% higher as of 0159 GMT, while the MSCI's broadest index of Asia-Pacific shares outside Japan, climbed 1.74%. [MKTS/GLOB]

Gains in the domestic market, however, are likely to be limited, as global oil prices rose in early Asian trade on Thursday after surging more than 3% in the previous session, driven by record U.S. crude exports. [O/R]

India is the world's third-largest importer and consumer of oil, and a rise in crude prices have a direct impact on inflation.

The NSE Nifty 50 index was down 0.42% at 17,656.35 at close on Tuesday, and the S&P BSE Sensex ended 0.48% lower to 59,543.96, snapping seven straight sessions of gains.

The market was closed on Wednesday for a holiday.

Foreign institutional investors sold a net 2.47 billion Indian rupees ($30.12 million) worth of equities on Tuesday, while domestic investors bought net 8.73 billion rupees worth of shares, as per provisional data available with the National Stock Exchange.

Stocks to watch:

** Zee Entertainment Enterprises and the Indian unit of Japan's Sony have agreed to divest three Hindi language channels as part of their deal to create a $10-billion TV behemoth, according to an order by India's competition regulator.

** Crompton Greaves Consumer Electricals reported a near 18% drop in September-quarter profit on Wednesday, missing analyst estimates, dented by higher expenses and subdued performance in the electrical consumer durables division.

** Dabur India on Wednesday reported a fall in quarterly profit as higher commodity prices weighed on margins, and said it would acquire a majority stake in spices and seasoning maker Badshah Masala.

** Carbon black maker PCBL Ltd reported a 4.9% fall in second-quarter profit on Wednesday, as higher costs offset robust sales of the tire strengthening material.

** Glenmark Pharmaceuticals Ltd said on Wednesday U.S. FDA has placed the firm's Baddi facility in the Indian state of Himachal Pradesh under an import alert.

($1 = 82.0040 Indian rupees)

(Reporting by Rama Venkat in Bengaluru; Editing by Neha Arora)