BENGALURU, July 14 (Reuters) - Indian shares ended higher on
Wednesday on the back of gains in information technology (IT)
stocks, with analysts expecting sector bellwether Infosys to
report a jump in quarterly profit after market close.
The blue-chip NSE Nifty 50 index ended 0.26% higher
at 15,853.95, while the benchmark S&P BSE Sensex rose
0.25% at 52,904.05.
Markets had opened slightly lower on Wednesday as the
biggest jump in U.S. inflation in 13 years reinforced
expectations of tapering by the U.S. Federal Reserve, but a
surge in domestic IT stocks helped erase early losses.
The Nifty IT index rose as much as over 3% to a
record high. Shares of MindTree and Wipro
jumped 9.3% and 7.2%, respectively, and were among the top
boosts to the sub-index.
Larger rival Infosys was up 2.1% ahead of
first-quarter results, with analysts expecting a rise in profit
as global businesses expanded their digital offerings during the
On Tuesday, S&P Global Ratings kept India's sovereign rating
unchanged at the lowest investment grade of 'BBB-', and said
recovery from the current economic slowdown depended on the
government's ability to bring in reforms that spur investment
and create jobs.
(Reporting by Shivani Singh in Bengaluru; editing by Aditya