Indian shares seen taking breather after four day slide

Indian shares are tipped to open slightly higher on Tuesday, after having fallen over 4% in the past four sessions, even as global markets remained jittery on economic growth concerns.

Indian shares seen taking breather after four day slide
A general view of the Bombay Stock Exchange (BSE), after Sensex surpassed the 50,000 level for the first time, in Mumbai, India, January 21, 2021. REUTERS/Francis Mascarenhas

BENGALURU, Sept 27 (Reuters) - Indian shares are tipped to open slightly higher on Tuesday, after having fallen over 4% in the past four sessions, even as global markets remained jittery on economic growth concerns.

India's NSE stock futures listed on the Singapore Exchange were up 0.3% as of 0145 GMT, while MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.2%.

On Monday, the NSE Nifty 50 index fell 1.8% to 17,016.30, while the S&P BSE Sensex dropped 1.6% to 57,145.22.

The Nifty's volatility index, which indicates traders' expectations about market instability over the next 30 days, hit its highest since mid-June on Monday.

Foreign institutional investors sold net 51.01 billion Indian rupees ($625.1 million) worth of Indian equities on Monday as per provisional data available with the National Stock Exchange.

Stocks to watch:

** India's Oil and Natural Gas Corp has got a better price for oil under new rules that allow producers marketing freedom, industry sources said.

** Amara Raja Batteries on Monday announced backward integration of its business.

** Jubilant Foodworks acquired a 29.42% stake in Roadcast Tech Solutions.

** Mahindra Logistics will sell its enterprise mobility business to its unit for 361.2 million rupees and buy Rivigo's B2b Express business for 2.25 billion rupees.

** UCO Bank plans rupee trade with Russia, Bloomberg News reported on Monday.

** Punit Commercials will consider the issue of bonus shares.

** Likhitha Infrastructure approved sub-division of shares in ratio 1:2.

** Archies reported a minor fire in a corporate office in Naraina industrial area.

** India's Dev Information Technology bagged orders worth 49.7 million rupees.

** Raghuvir Synthetics said production commenced on Sept. 26 at its factory.

** Shree Ajit Pulp And Paper will consider the issue of shares on a rights basis.

($1 = 81.6100 Indian rupees)

Reporting by Nallur Sethuraman in Bengaluru; Editing by Savio D'Souza