Indian shares edge higher on IT, financials boost

BENGALURU (Reuters) – Indian shares inched higher on Wednesday, helped by gains in heavyweight information technology and financials stocks, while investors globally awaited the outcome of the U.S. Federal Reserve’s two-day policy meeting.

The blue-chip NSE Nifty 50 index rose 0.21% to 14,941.80 by 0403 GMT and the benchmark S&P BSE Sensex climbed 0.25% to 50,488.43. Both indexes had ended lower in the previous session.

A resurgence in domestic COVID-19 cases and rising U.S. bond yields have limited gains for the Nifty and Sensex this month, which have risen about 3% compared to a 6.6% jump in February.

The Nifty IT index extended gains into a third session, rising 0.97%. Software services firm Infosys Ltd was among the top boost to the Nifty 50.

The Nifty energy index was among the top losers, shedding 0.62%. Bharat Petroleum Corp Ltd was the top percentage loser on the Nifty 50.

Metals-to-oil conglomerate Vedanta Ltd rose as much as 2.3%, after parent Vedanta Resources Ltd increased bit.ly/3rWN0wL the number of shares to be acquired under an open offer for the Indian unit, and hiked the open offer price to 235 rupees per share, a 3.8% premium to the stock’s last closing price.

Source: Read Full Article