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BENGALURU - Indian shares hit record highs on Wednesday, led by financial and metals sectors, as June-quarter corporate earnings momentum boosted investor sentiment.

By 0347 GMT, the blue-chip NSE Nifty 50 index climbed 0.6% to 16,235 and the benchmark S&P BSE Sensex rose 0.7% to 54,187.97.

The Nifty Financial Services Index rose 0.9%, while the metals sub-index gained 1.5%. HDFC Ltd was the top gainer on the Nifty 50 index, rising 1.7%.

India's central bank begins its three-day policy meeting on Wednesday, where it is expected to leave interest rates at record lows for a seventh straight time on Friday. Markets are keeping an eye on liquidity measures taken by the central bank.

(Reporting by Nallur Sethuraman in Bengaluru; editing by Uttaresh.V)