JOIN USSensex opens above 58,300; Nifty above 17,400
Indian shares edged higher on Wednesday, boosted by gains in some energy stocks, while automobile and telecom companies jumped after reports that the government was considering incentives and financial relief for the sectors.
The blue-chip NSE Nifty 50 index was 0.19 per cent higher at 17,412.60and the benchmark S&P BSE Sensex rose 0.18 per cent to 58,358.53.
Auto stocks rose 0.47 per cent on reports that the government would likely consider production-linked incentive scheme for specific segments of the sector in a cabinet meeting.
Debt-laden telecom company Vodafone Idea advanced about 3 per cent and bigger rival Bharti Airtel rose 1.4 per cent after a separate report that the union cabinet could consider financial relief measures for the telecom sector in a meeting.
Oil and Natural Gas Corp rose sharply, adding over 4 per cent and was the top gainer on the Nifty 50 index.
Zee Entertainment Enterprises extended a rally to a second session to rise 10 per cent. On Tuesday the stock soared 40 per cent ahead of a shareholders meeting.
Shares in broader Asia were lower after weak Chinese economic data sparked worries of slowing growth globally.
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