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Indian shares gain on tech, financials boost; Reliance in focus

BENGALURU, June 24 (Reuters) - Indian shares edged higher on Thursday, helped by gains in heavyweight information technology and financial stocks, while shares of Reliance Industries were slightly lower ahead of its annual general meeting later in the day.

The blue-chip NSE Nifty 50 index rose 0.22% to 15,721.50 and the benchmark S&P BSE Sensex climbed 0.27% to 52,449.44 by 0355 GMT.

Declining COVID-19 cases, easing of pandemic-led curbs in states, and a recent record surge in daily vaccinations have driven both indexes to record highs this month. But, they have retreated in the last two sessions as investors locked in gains ahead of Thursday’s expiry of monthly contracts for June.

In Mumbai trading, the Nifty IT index gained 0.77% and the Nifty Bank Index added 0.40%. Both the sectoral indexes were down in at least three of the past four sessions.

Conglomerate Reliance Industries slipped 0.1% ahead of its keenly-watched annual general meeting scheduled at 0830 GMT.

Speciality Restaurants, the owner of well-known domestic brands such as Mainland China and Oh! Calcutta, gained 8.2% after reporting a March-quarter profit versus a loss a year ago.

Among global markets, Wall Street’s Nasdaq index closed at a record high overnight, while Asian shares were mixed, as investors reassessed the U.S. central bank’s statements on inflation and rate hikes. (Reporting by Anuron Kumar Mitra in Bengaluru; editing by Uttaresh.V)

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