MARKET EYE-Indian shares edge higher; GlaxoSmithKline Pharma surges

* India's benchmark BSE index gains 0.15 percent, while

the broader NSE index is up 0.12 percent.

* Lenders gain on value buying after four days of falls. IDFC

Ltd gains 1.6 percent after falling more than 10

percent in four sessions, while ICICI Bank Ltd (NYSE: IBN - news) is up

1.2 percent.

* GlaxoSmithKline Pharmaceuticals Ltd surges 19.1

percent after GlaxoSmithKline Plc (Other OTC: GLAXF - news) said on Monday it

plans to spend over $1 billion to buy up to 20.6 million shares

to raise its stake in its Indian unit.

* However, foreign institutional investors (FIIs) sold Indian

shares worth 4.32 billion rupees ($69.49 million) on Friday, to

snap their 10-day buying streak, exchange and regulatory data

shows.

* Wholesale price-based inflation due at about 0600 GMT on watch

ahead of the central bank's policy review and the U.S. Federal

Reserve meet later this week.

(abhishek.vishnoi@thomsonreuters.com /;

abhishek.vishnoi.thomsonreuters.com@reuters.net)