MUMBAI: Indian shares should start higher on Tuesday after better-than-expected US consumer spending data helped bolster investor sentiment across Asian markets.
However, there will be caution ahead of quarterly economic growth data due at 11 a.m. (0530 GMT) and market holidays over the next two days.
The economy probably grew an annual 7.6 percent in the quarter through June, slowing from the previous quarter's 7.8 percent growth, the median forecast from a poll of 28 economists showed.
Maruti Suzuki will be in focus after India's top car maker on Monday halted production at one of its plants after it dismissed some workers and asked all others to sign a "good conduct bond".
At 0252 GMT, the MSCI's measure of Asian markets other than Japan was up 1.35 percent, while Japan's Nikkei was trading 1.5 percent higher and South Korea's Kospi was 1.2 percent.
The Nifty India stock futures in Singapore were up 1.3 percent, indicating a firm opening for the domestic market.
The 30-share main stock index rebounded on Monday after three straight sessions of losses to close up 3.6 percent at 16,416.33.
The benchmark, however, is set to post its second straight monthly fall in August, as rising interest rates and worries about the health of global economy led investors to pare exposure to risky assets.
STOCKS TO WATCH
BGR Energy Systems Ltd after the company said it had bagged a contract worth 4.44 billion rupees.
Atlanta after the Economic Times reported the construction company was in talks with lenders, including State Bank of India , to raise 7 billion rupees debt for the financial closure of a road project in the eastern state of Bihar.
Apollo Hospitals Enterprise after the Financial Chronicle reported the healthcare firm was in talks to buy out its partners in two joint venture hospital projects and another project in Hyderabad.
Copyright Reuters, 2011
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