March 7, 2014 / 12:37 PM / 3 years ago

UPDATE 1-MARKET EYE-India's record high shares vulnerable to profit-taking

(Updates foreign flows data)
* Indian shares are seen extending their record-setting rally if
foreign investors continue to buy shares, although the prospect
of profit-taking could dent broad gains.
* Overseas investors bought Indian shares worth 25.77 billion
rupees ($420.73 million) on Friday, their biggest single-day
buying since Dec. 9, extending their buying streak to a 16th day
totalling around $1.4 billion, exchange and regulatory data
shows.
* However, global markets' reaction to U.S. employment data
later in the day would be key. 
* Traders are also cautiously eyeing consumer price inflation
data due on Wednesday, the last report before the RBI's policy
review on April 1. 
    
KEY EVENTS/FACTORS TO WATCH
Tues: Auto sales
Tues: Supreme court to hear Reliance Industries gas
unit pricing petition 
Wed: Jan industrial output 
     Feb consumer price inflation
Fri: Feb wholesale price inflation 
     Weekly foreign exchange reserves 

 (abhishek.vishnoi@thomsonreuters.com/abhishek.vishnoi.thomsonre
uters.com@reuters.net)

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