Indian shares to fall; Reliance Comm, Bharti eyed

MUMBAI, Aug 18 (Reuters) - Indian shares are set to fall on
Tuesday, weighed down by domestic economic concerns after a
weak monsoon and a string of recent data that has renewed
doubts about a global recovery. Weak Asian peers will also keep
investors cautious.

Trading could be choppy as long-term investors look to
enter the market after it dropped 4.1 percent on Monday in its
biggest fall since the budget in early July.

No. 2 telecoms firm Reliance Communications (RLCM.BO) will
be watched after sources told Reuters the company was in talks
to buy the African assets of Kuwait's Zain (ZAIN.KW). The Times
of India newspaper said the Zain's operations, Celtel, were
valued at $10 billion. [ID:nBMA005597]

Leading telecoms firm Bharti Airtel (BRTI.BO) will be on
the radar after the Economic Times reported the company had
received bids from more than a dozen overseas banks keen to
fund its merger with top South African mobile company MTN
(MTNJ.J). [ID:nDEL476610]

Non-ferrous metals firm Sterlite Industries (STRL.BO) will
be in focus after Shanghai copper rose on Tuesday after falling
by its 5 percent limit in the previous session.

Asian markets were lower, with Japan's Nikkei .N225 down
0.2 percent by 0352 GMT, while MSCI's measure of other Asian
markets .MSCIAPJ fell 0.8 percent.

Nifty India stock index futures traded in Singapore SINc1
were down 0.8 percent, pointing to a lower opening in India.

On Monday, the 30-share BSE index .BSESN fell 4.07
percent, or 626.71 points, to 14,784.92, its lowest close since
July 17.
--------------------MARKET SNAPSHOT AT 0353 GMT--------------

INSTRUMENT LAST PCT CHG NET CHG
S&P 500 .SPX 979.73 -2.43% -24.360
USD/JPY JPY= 94.78 0.32% 0.300
10-YR US TSY YLD US10YT=RR 3.4981 -- 0.026
SPOT GOLD XAU= 937.5 0.50% 4.700
US CRUDE CLc1 66.94 0.28% 0.190
DOW JONES .DJI 9135.34 -2.00% -186.06
ASIA ADRS .BKAS 116.56 -3.84% -4.65
-------------------------------------------------------------

STOCKS TO WATCH

* Tata Consultancy Services Ltd (TCS.BO) after an official
told Reuters the outsourcer was seeing an increase in corporate
technology spending in Asia-Pacific in the current quarter.
[ID:nBOM352657]

* Larsen & Toubro (LART.BO), after its unit L&T Finance
said it plans to raise up to 10 billion rupees from a retail
bond sale that opens on Tuesday. [ID:nBOM164755]

* Housing Development Finance Corp (HDFC.BO) after two
sources told Reuters it was selling up to 40 billion rupees of
bonds. [ID:nBMB008345]

FACTORS TO WATCH
* For technical analysis, double click on
www.reutersindia.net
* Indian rupee report
[INR/]
* Indian bond report
[IN/]
* Dollar and yen firm as risky bets unwound
[FRX/]
* Oil steady above $67; eyes inventory data, hurricane
[O/R]
* Wall St sinks as recovery hopes hurt
[.N]
* Asian stocks bounce, focus on China market
[MKTS/GLOB]
* For closing rates of Indian ADRs
INADR
(Reporting by Pratish Narayanan and Jasudha Kirpalani; Editing
by Ranjit Gangadharan)