Indian shares set to open lower on caution ahead of key macro data

BENGALURU, Aug 29 (Reuters) - Indian shares are set to open marginally lower on Tuesday, on risk aversion ahead of key macro data from the U.S. as well as Indias quarterly gross domestic product, due later this week.

Indias GIFT Nifty on the NSE International Exchange was down 0.12% at 19,330.50 at 8:03 a.m. IST.

The benchmark Nifty 50 (.NSEI) settled marginally higher on Monday, aided by financials, although Reliance Industries (RELI.NS) fell 1% and capped the gains in the market.

Analysts said that the absence of clear timelines regarding the telecom and retail arms initial public offerings (IPOs) at the oil-to-telecom conglomerates 46th annual general meeting (AGM) led to the selling pressure.

Asian markets extended gains on Chinas measures to support its market and property sector.

Wall Street equities closed higher overnight ahead of key economic data which could impact the Federal Reserves rate decision in September, including monthly jobs and personal consumption expenditure (PCE) price index prints.

Investors also await domestic GDP data for the April-June quarter, scheduled to be released post-market hours on Thursday.

Indias economic growth likely accelerated to 7.7% in the June quarter, the fastest annual pace in a year, on strong demand, robust service sector growth and increased government expenditure, according to a Reuters poll.

Investors also await updates from the market regulators probe on the Adani group, with the Supreme Court set to hear the matter on Tuesday.

Foreign institutional investors sold shares worth 13.93 billion rupees ($168.60 million) on a net basis on Monday, while domestic institutional investors bought shares worth 12.64 billion rupees, according to stock exchange data.

STOCKS TO WATCH:

** Adani Enterprises (ADEL.NS): Market regulator Securities and Exchange Board of Indias (SEBI) probe on Adani group has uncovered violations of rules on disclosures by listed entities and limits on the holdings of offshore funds, two sources with direct knowledge of the matter said.

** Reliance Industries (RELI.NS): Co appoints the three children of Chairman Mukesh Ambani as board directors, in succession plan.

** HCL Technologies Ltd (HCLT.NS): Software firm signs Exclusive Preferred Professional Services Agreement With Cloud Software Group

** Zomato (ZOMT.NS): Internet Fund III Pte Ltd, a venture capital fund managed by U.S.-based Tiger Global Management exits the food delivery firm by offloading 1.44% stake, through bulk deals.

($1 = 82.6240 Indian rupees)