August 23, 2011 / 3:26 AM / 8 years ago

Indian shares seen rising on Asian cues, bargain hunting

 MUMBAI, Aug 23 (Reuters) - Indian stocks may post modest
gains on Tuesday, tracking Asian peers, with investors likely to
continue bargain-hunting after heavy losses last week, even
though concerns remain about the health of the global economy.	
 Asian shares edged up on Tuesday after modest gains on Wall
Street, but remained deep in negative territory for the month,
while gold hit another record above $1,900 an ounce on Tuesday.	
 The Wall Street ended slightly higher on Monday after four
weeks of losses as investors hesitated to take big risks without
a catalyst for buying.	
 On Monday, Indian shares rebounded to end 1.2 percent higher
as investors grabbed shares offering value following last week's
plunge.	
 At 0257 GMT, the MSCI's measure of Asian markets other than
Japan was higher by 1.2 percent, Japan's Nikkei
 rose 0.1 percent while South Korea's Kospi was
trading 2.53 percent higher.	
 The Nifty India stock futures in Singapore SINc1 were up
by 0.5 percent, indicating a higher opening for the Indian
market.	
 	
 STOCKS TO WATCH	
 * GVK Power & Infra , after the firm said it will
buy a 14 percent stake in Bangalore International Airport from
Siemens Project Ventures for 114 rupees per share. 	
 * Zuari Industries , after the agrichemicals maker	
said a fire broke out in its pipeline in Goa, which is likely to
impact supplies and production at its plant. 	
   	
 FACTORS TO WATCH 	
 * For technical analysis click on www.reuterstechnicals.net 	
 * Indian rupee report                                   	
 * Indian bond report                                     	
 * Euro struggles, eyes on PMI data                      	
 * Brent crude slips as Libya oil restart eyed            	
 * Asian shares edge up but growth fears propel gold 	
 * Bargain hunters tiptoe back but remain cautious         	
 * For closing rates of Indian ADRs                     	
  (Reporting by Aniruddha Basu and Nandita Bose; editing by
Malini Menon)	
(nandita.bose@thomsonreuters.com)(+91 22 66367374; 	
Reuters Messaging: nandita.bose.reuters.com@reuters.net)   	
   	
 ASIA-PACIFIC STOCK MARKETS:  	
 Pan-Asia........ Japan.......   S.Korea... 
 	
 S.E. Asia.......        Hong Kong...  Taiwan.... 
 	
 Australia/NZ....        India.......  China..... 
 	
  OTHER MARKETS:  	
 Wall Street ....        Gold ....... Currency.. 
 	
 Eurostocks.....         Oil ........ JP bonds... 
 	
 ADR Report .....      LME metals. US bonds.. 
 	
 Stocks News US.. Stocks News Europe    
 	
  	
 DIARIES & DATA:  	
 Indian Data Watch   Asia earnings diary 
 	
 U.S. earnings diary    European diary       
 	
 Indian diary          Wall Street Week Ahead  
 	
 Eurostocks Week Ahead      	
  	
 TOP NEWS:  	
 For top Asian company news, double click on:          
 	
 U.S. company news     European company news 
 	
 Forex news            Global Economy news 
 	
 Technology news      Telecoms news       
 	
 Media news          Banking news          
 	
 Politics/General news   Asia Macro data      
 	
 A multimedia version of Reuters Top News is available at:  	
 http://topnews.session.rservices.com  	
  	
 LIVE PRICES & DATA:  	
 World Stocks          <0#.INDEX>  Currency rates   
 	
 Dow Jones/NASDAQ    Nikkei                
 	
 FTSE 100                  Debt     <0#USBMK=> 
 	
 Indian rupee             LME price overview    	
0 : 0
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