Indian shares rise as IT, financials advance
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BENGALURU - Indian shares inched higher on Thursday after a three-day slide, outperforming broader Asia on the back of gains in information technology and banking stocks as investors snapped up beaten-down equities.
The NSE Nifty 50 index climbed 0.36% to 16,083 by 0355 GMT, while the S&P BSE Sensex rose 0.38% to 53,950.84.
The Nifty IT index rose 1.05% after two straight sessions of losses, while finance, banks, and private sector lenders gained between 0.8% and 0.9%.
Among individual stocks, aluminium and copper producer Hindalco Industries rose 1.1% ahead of its quarterly earnings results.
Broader Asia was flat, with MSCI's broadest index of Asia-Pacific shares outside Japan down 0.03%.
On Wednesday, Wall Street closed higher after minutes from the Federal Reserve's latest monetary policy meeting showed policymakers unanimously felt the U.S. economy was very strong as they grappled with surging inflation without triggering a recession. [MKTS/GLOB]
