September 5, 2011 / 3:16 AM / 8 years ago

Indian shares to open lower on weak Asian, U.S. cues

 MUMBAI, Sept 5 (Reuters) - Indian shares are set to start
lower on Monday, tracking weak Asian peers after renewed fears
of recession in the United States and sustained worries about
the euro zone debt crisis prompted investors to sell riskier
assets.	
 L&T Finance Holdings , a unit of engineering
conglomerate Larsen & Toubro , will be watched after a
source told Reuters the firm plans to raise at least 1 billion
rupees via two-year bonds at 9.96 percent. 	
 At 0251 GMT, the MSCI's measure of Asian markets other than
Japan was down 2.35 percent, while Japan's
Nikkei dropped 1.71 percent and South Korea's Kospi
 shed 3 percent.  	
 The Nifty India stock futures in Singapore SINc1 were down
1.61 percent, indicating a lower opening for the Indian market. 	
 U.S. stocks fell 2 percent on Friday after data showing zero
jobs growth in August brought investors face-to-face with the
prospect of another recession. The euro slipped to a three-week
low against the dollar on Monday. 	
 The main Indian stock index rose 0.9 percent on
Friday, snapping five straight weeks of fall, to their highest
close in more than two weeks.	
 	
 STOCKS TO WATCH	
 * Gail India after the firm said it had signed a
joint venture to supply city gas distribution in Kerala.
 	
 * Provogue India after the company said its board
approved the absorption of its real estate business.
 	
 * OnMobile Global after its board approved a
buyback of shares for an amount not exceeding 250 million rupees
at prevailing market prices. 	
 	
 FACTORS TO WATCH
 * Indian rupee report                                   
 * Indian bond report                                     
 * Euro, Aussie dlr struggle as risk aversion mounts     	
 * Oil falls as U.S. job growth stalls                    
 * Asia stocks, euro fall on U.S. growth gloom      
 * U.S. labor market woes sink Wall Street                 
 * For closing rates of Indian ADRs                     
 (Reporting by Aniruddha Basu and Nandita Bose; Editing by
Ranjit Gangadharan)
 	
	
 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    	
	
	
	
	
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