Indian shares hit all-time highs on technology boost; GDP data awaited

Indian shares hit record highs for a second straight session, boosted by technology stocks and telecom firm Bharti Airtel, with investors focusing on economic growth data due later in the day

BENGALURU (Reuters) - Indian shares hit record highs for a second straight session on Tuesday, boosted by technology stocks and telecom firm Bharti Airtel, with investors focusing on economic growth data due later in the day.

The blue-chip NSE Nifty 50 index was up 0.18% at 16,960.75 by 0347 GMT and the benchmark S&P BSE Sensex rose 0.21% to 57,010.92. Both the indexes are set to post a fourth consecutive monthly gain.

Bharti Airtel Ltd and Tech Mahindra Ltd were the top performers on the Nifty 50, while the Nifty IT index, with its 1.12% jump, was among the top gainers among other sub-indexes.

India's GDP data is set to be released at 1200 GMT. The country's economy likely rebounded in the April-June quarter from a deep slump last year helped by improved manufacturing and despite a devastating second wave of COVID-19 cases, according to a Reuters survey of economists.

In the broader Asian markets, stocks fell as worries about China's slowing economic growth weighed on sentiment. [MKTS/GLOB]

 

(Reporting by Rama Venkat in Bengaluru; editing by Uttaresh.V)