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Indian shares rise ahead of derivatives expiry; all eyes on Fed

Credit: REUTERS/FRANCIS MASCARENHAS

Indian shares clocked broad-based gains on Thursday, led by financial stocks, ahead of the expiry of August derivative contracts and as investors globally awaited a key speech from the U.S. Federal Reserve chairman later in the day.

BENGALURU, Aug 27 (Reuters) - Indian shares clocked broad-based gains on Thursday, led by financial stocks, ahead of the expiry of August derivative contracts and as investors globally awaited a key speech from the U.S. Federal Reserve chairman later in the day.

The NSE Nifty 50 index .NSEI was up 0.54% at 11,613.35 by 0355 GMT, while the S&P BSE Sensex .BSESN was 0.64% higher at 39,324.72.

All 12 major sectoral indexes were higher in early trading, with HDFC Bank Ltd HDBK.NS and mortgage lender HDFC Ltd HDFC.NS being the top two boosts to the Nifty 50.

Shares in cigarette makers gained after a report that an Indian parliamentary panel recommended allowing foreign direct investment in the tobacco sector. Cigarettes-to-hotels conglomerate ITC Ltd ITC.NS was up 1%.

(Reporting by Sachin Ravikumar; editing by Uttaresh.V)

((saisachin.r@tr.com; +91 80 6182 2754; Twitter: @sachinr27;))

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