MUMBAI: 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 were up by 0.5 percent, indicating a higher opening for the Indian market.
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.
Copyright Reuters, 2011
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