INDIA STOCKS-Indian equities set to open flat as traders eye domestic, US inflation data

Aug 12 (Reuters) - Indian equity benchmarks are likely to open flat on Tuesday, chiming trends in broader Asian markets, as investors await domestic inflation data for July and a key U.S. inflation print that could influence near-term interest rate expectations.

The Gift Nifty futures GIFc1 were trading at 24,599.5, as of 7:53 a.m. IST, indicating that the Nifty 50 .NSEI will open near Monday's close of 24,585.05.

Other Asian markets were tepid, with the MSCI Asia ex-Japan index .MIAPJ0000PUS edging 0.15% higher. Wall Street fell overnight as investors weighed trade and geopolitical developments ahead of data. MKTS/GLOB

U.S. consumer prices, due to released later in the day, are likely to influence U.S. Federal Reserve's rate-cut trajectory, with markets implying around a 90% probability of rate easing in September and at least another rate cut by the year-end.

Traders showed scant reaction to U.S. President Donald Trump's executive order extending the tariff truce with China by another 90 days.

Trump is also due to meet Russian President Vladimir Putin in Alaska on Friday to discuss ending Russia's war on Ukraine.

Investors are keeping an eye on domestic retail inflation data, set to be released after market hours on Tuesday.

Cooling food prices likely reduced retail inflation to an eight-year low of 1.76% in July, below the Reserve Bank of India's 2%-6% tolerance band for the first time in more than six years, a Reuters poll of economists showed.

Both the Nifty and Sensex .BSESN climbed nearly 1% on Monday, lifted by a post-earnings rally in State Bank of India SBI.NS and Tata Motors TAMO.NS. This rebound followed six consecutive weekly losses, driven by concerns over U.S. tariffs and subdued corporate earnings.

Domestic institutional investors have been net buyers of Indian stocks for 26 consecutive sessions, with the flows into equity mutual funds surging to a record high in July, lifting the DIIs' stake in Indian stocks to an all-time high.

STOCKS TO WATCH

** Bata India BATA.NS logs dip in June-quarter profit on sluggish footwear sales, higher costs

** Hindalco's HALC.NS unit Novelis reports 67% sequential fall in net profit in the first quarter

** Astral ASTL.NS posts 33% drop in consolidated net profit in the June quarter

** Ashoka Buildcon ABDL.NS reports 45% rise in first-quarter consolidated net profit