US markets consolidate with gains ahead of key inflation data | Dow Jones was up 98 points on Tuesday. The country's March CPI data is awaited. Economists polled by Dow Jones predict that CPI rose by 0.2 percent in March, compared to a 0.4 percent gain in February.

Minutes of US Federal Open Market Committee (FOMC) meet is also due on Wednesday | Further clues expected into the mindset behind US Fed's 25 basis point hike.

Foreign investors buy in cash market for 8th-straight day | Foreign institutional investors (FIIs) bought Rs 342 crore in cash market on Tuesday, whereas the domestic institutional investors (DIIs) sold Rs 264cr in cash market. The FIIs have bought Rs 5960 crore in the last eight trading sessions.

TCS earnings today | India's largest software services company by market value, Tata Consultancy Services will report results after market hours today. Growth for the March quarter is likely to be slower than December, while revenue in US Dollar terms is likely to rise 1.9 percent sequentially to $7,210 million. All eyes are on the commentary on the deal wins and continuity of the organisational structure, post the resignation of its CEO Rajesh Gopinathan.

March CPI and February IIP data awaited today in India | According to Street estimates, The retail inflation is likely to be moderate in March to 5.63 percent, compared to 6.44 percent in the previous month.

Here are some key stocks to watch: Sula Vineyards: Strong sales growth of own brand at 15 percent year-on-year; Eicher Motors: Macquarie downgrades to neutral, cuts price target; Hero Moto: Macquarie remains neutral but cuts price target; BHEL: Consortium with Titagarh Wagons wins order for 80 Vande Bharat Trains; Delta Corp: Soft performance in a seasonally weak quarter