Indian shares to start up tracking Asian gains

Mumbai, Aug 29 (Reuters) - Indian shares are expected to
open higher on Monday, tracking gains across Asia after the U.S.
Federal Reserve chairman left the door open for further action
to stimulate the world's biggest economy and fight unemployment.

Shares in largest listed developer DLF Ltd will be
in focus after the Financial Express reported the company was in
talks to sell its 70 percent stake in DLF IT Park in Noida to
financial services firm IDFC.

At 0303 GMT, the MSCI's measure of Asian markets other than
Japan was up 1.9 percent, while Japan's Nikkei
was trading 0.5 percent higher.

The Nifty India stock futures in Singapore SINc1 were up
nearly 1 percent.

On Friday, the 30-share main stock index ended down
1.8 percent at 15,848.83 and posted a fifth straight weekly
loss.

STOCKS TO WATCH

* Sesa Goa Ltd , after the miner said its
performance would be affected after the country's top court
extended a ban on mining to two more districts in a key iron ore
producing state. .

* Budget carrier SpiceJet Ltd , after its board
approved issuing 36 million shares to Chairman Kalanithi Maran
on a preferential basis. .

FACTORS TO WATCH
* Indian rupee report
* Indian bond report
* Dollar struggles on expectations for Sept Fed action
* Brent slips below $111 as Irene spares oil refineries
* Asia stocks up on Fed hopes;Irene spares NYC
* Wall St posts 1st weekly gain in more than a month
* For closing rates of Indian ADRs
(Reporting by Prashant Mehra & Aniruddha Basu; Editing by
Ranjit Gangadharan)
(anurag.kotoky@thomsonreuters.com; +91 11 4178 1024; Reuters
Messaging: anurag.kotoky.thomsonreuters.com@reuters.net)

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