Nifty edges higher; telecom stocks surge

Reuters Market Eye - The Nifty rises 0.77 percent, heading for a sixth consecutive session of gains.

Telecom stocks lead gains after Idea Cellular Ltd's April-June profit beat estimates and after the sector regulator issued guidelines for mobile phone spectrum sharing between carriers that is seen benefiting the bigger incumbent.

Bharti Airtel Ltd gains 4 percent while Idea Cellular is up 4.9 percent.

Among other blue-chips, Hindalco Industries Ltd gains 2.7 percent after LME aluminium hit a new 16-month peak on Tuesday as supply constraints prompted expectations of further gains.

(Reporting by Indulal PM)