Indian shares edge higher on IT, financials boost

BENGALURU, March 17 (Reuters) - Indian shares inched higher on Wednesday, helped by gains in heavyweight information technology and financials stocks, while investors globally awaited the outcome of the U.S. Federal Reserve’s two-day policy meeting.

The blue-chip NSE Nifty 50 index rose 0.21% to 14,941.80 by 0403 GMT and the benchmark S&P BSE Sensex climbed 0.25% to 50,488.43. Both indexes had ended lower in the previous session.

A resurgence in domestic COVID-19 cases and rising U.S. bond yields have limited gains for the Nifty and Sensex this month, which have risen about 3% compared to a 6.6% jump in February.

The Nifty IT index extended gains into a third session, rising 0.97%. Software services firm Infosys Ltd was among the top boost to the Nifty 50.

The Nifty energy index was among the top losers, shedding 0.62%. Bharat Petroleum Corp Ltd was the top percentage loser on the Nifty 50.

Metals-to-oil conglomerate Vedanta Ltd rose as much as 2.3%, after parent Vedanta Resources Ltd increased the number of shares to be acquired under an open offer for the Indian unit, and hiked the open offer price to 235 rupees per share, a 3.8% premium to the stock's last closing price. (Reporting by Anuron Kumar Mitra in Bengaluru; Editing by Subhranshu Sahu)