Indian shares seen up; Reliance, Bharti watched

MUMBAI, Nov 9 (Reuters) - Indian shares should open higher
on Monday, tracking gains in its Asian peers, while energy
giant Reliance Industries (RELI.BO: Quote, Profile, Research) will be in focus after a
report it was close to announcing a major overseas buy.

The Economic Times newspaper reported Reliance Industries
may announce the acquisition before its annual general meeting
on Nov. 17, and the likely target was part of the assets owned
by U.S.-based LyondellBasell [ACCEIN.UL], which filed for
bankruptcy protection in January.

Bharti Airtel (BRTI.BO: Quote, Profile, Research) would be watched after its head
said the leading telecoms company was not actively seeking
acquisitions, after its $23 billion planned tie-up talks with
South Africa's MTN (MTNJ.J: Quote, Profile, Research) collapsed. [ID:nBOM425955]

Prime Minister Manmohan Singh said on Sunday India's
economy would grow by more than 7.0 percent next year, still
below the government's medium-term rate target of 8-9 percent.

Finance Minister Pranab Mukherjee said on Sunday there
would be no more stimulus measures, but the timing for
unwinding those put in place would be decided once it was clear
the economy was recovering. [ID:nBOM425910]

Asian shares were mostly higher with the MSCI's measure of
Asian markets other than Japan .MSCIAPJ up 1.3 percent by
0317 GMT, while Japan's Nikkei .N225 was up 0.1 percent.

The Nifty India stock futures in Singapore SINc1 were
trading 0.2 percent higher indicating the domestic market may
open up.

The 30-share BSE index climbed 0.6 percent on Friday to
16,158.28, taking gains in the week to 1.6 percent, its first
weekly rise in three.
----------------MARKET SNAPSHOT AT 0322 GMT----------------

INSTRUMENT LAST PCT CHG NET CHG
S&P 500 .SPX 1069.3 0.25% 2.670
USD/JPY JPY= 90.18 0.23% 0.210
10-YR US TSY YLD US10YT=RR 3.5255 -- 0.025
SPOT GOLD XAU= $1099.9 0.33% 3.600
US CRUDE CLc1 $78.32 1.15% 0.890
DOW JONES .DJI 10023.42 0.17% 17.46
ASIA ADRS 122.54 -0.10% -0.12
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