BENGALURU, July 11 (Reuters) - Indian shares advanced on Tuesday, led by gains in high-weightage financials and auto stocks, tracking a rise in their Asian peers as hopes of a China stimulus package boosted risk appetite.

The Nifty 50 index was up 0.67% at 19,485.60, while the S&P BSE Sensex rose 0.64% to 65,762.47, as of 10:38 a.m. IST.

Twelve of the 13 major sectoral indexes logged gains, with financials rising 0.5% and auto shares adding more than 1%.

Life insurers - HDFC Life Insurance, Life Insurance Corporation of India and Max Financial Services - gained over 2% each after reporting a growth in the premiums collected in June.



over 2.5% as Taiwan's Foxconn withdrew from a $19.5 billion semiconductor joint venture with the company.

The Nifty 50 has risen more than 12% so far in the fiscal year 2024 and hit new all-time highs, supported by persistent foreign inflows.

The rally has extended to broader markets as well, with mid-caps and small-caps repeatedly scaling new all-time and 52-week highs, respectively.

Analysts expect the rally to broaden further, as mid-caps and small-caps continue to attract domestic and foreign funds.

"The funds received by small- and mid-caps in June from mutual fund investors are 84% of the total inflow to equity-based funds," said Viraj Gandhi, CEO of Samco Mutual Fund. "This clearly indicates momentum in broader markets."

India's inflation likely snapped a four-month decline in June due to rising food prices, a Reuters poll of economists showed ahead of official data on Wednesday.

Meanwhile, IT firms Tata Consultancy Services and HCLTech will kickstart the June quarter earnings season on Wednesday.

Asian markets rose nearly 1.5% after China extended support to the property sector, raising hopes of further stimulus to revive its economy.

(Reporting by Bharath Rajeswaran in Bengaluru; Editing by Savio D'Souza, Nivedita Bhattacharjee and Dhanya Ann Thoppil)