Infrastructure sector output grew 6.8 percent in November from a year earlier, sharply higher than the annual growth of 3.7 percent in the same month last year, government data showed on Monday.
"The data and lower inflation and will keep the market buoyant for a couple of days," said Ambareesh Baliga, chief operating officer at brokerage Way2Wealth.
"But this is only a bounceback and not the beginning of a fresh rally as there are many domestic and global issues," he said.
Mobile operators such as Bharti Airtel, Reliance Communications and Idea Cellular will be in focus after India's telecoms commission accepted the sector regulator's recommendation on mergers & acquisitions rules by and large.
By 0243 GMT, the MSCI's broadest index of Asia Pacific shares outside Japan was trading down 0.06 percent, while the Nifty India stock futures in Singapore were up 0.15 percent, pointing to a higher opening for the domestic market.
The main 30-share BSE index rose 1.47 percent on Monday on bargain buying.
STOCKS TO WATCH
* Bharati Shipyard is expected to rise after it said late on Monday its board approved a proposal to restructure 28.5 billion rupees worth of debt.
* Non-banking finance companies such as Bajaj Finance , Mahindra Finance and Muthoot Finance after the central bank revised norms to improve their capital adequacy to help them manage off-balance sheet exposure.
FACTORS TO WATCH
* Indian rupee report * Indian bond report * Euro holds above 2011 low vs dollar * Oil rises on supply worries, supportive data * Asian shares steady in thin holiday trade, US mkt eyed
* For closing rates of Indian ADRs (Reporting by Sanjeev Choudhary and Swati Pandey; Editing by Ranjit Gangadharan)
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