Indian shares edge up on global cues; services survey eyed

  • 10 months ago
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BENGALURU, Sept 3 (Reuters) – Indian shares ticked higher on Thursday ahead of the release of a survey on the country’s dominant services industry, following gains in Asian peers driven by hopes of more U.S. stimulus and upbeat data from China.

The blue-chip NSE Nifty 50 index gained 0.17% to 11,554.70, while the S&P BSE Sensex rose 0.06% to 39.109.37 by 0355 GMT.

Investors await readings for August on India’s services industry, a key driver of economic growth, with a Reuters poll forecasting a sixth straight month of contraction, albeit at a slower pace of decline.

HDFC Bank Ltd and Housing Development Finance Corp Ltd were the top boosts to the Nifty, rising 0.5% and 0.7%, respectively, while conglomerate Reliance Industries Ltd capped gains, falling 0.7%.

MSCI’s broadest index of Asia-Pacific shares outside of Japan climbed 0.5%, after data showed a sustained recovery in China’s services sector, while hopes of additional U.S. stimulus helped sentiment. MKTS/GLOB

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