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India Stocks: Indian shares open higher led by IT stocks, HDFC Bank

INDIA STOCKS-Indian shares open higher led by IT stocks, HDFC Bank

Updates for market open

- Indian shares opened higher on Tuesday, led by information technology stocks and heavyweight HDFC Bank, although higher oil prices and global bond yields ahead of this week's Federal Reserve meeting kept gains in check.

The benchmark Nifty 50 .NSEI rose 0.45% to 23,503.65, while the BSE Sensex added 0.53% to 75,178.2, as of 9:15 a.m. IST.

Eight of the 16 major sectors rose. The broader small-caps .NIFSMCP100 and mid-caps .NIFMDCP100 were little changed.

IT stocks .NIFTYIT soared 4.5% after calls for a slowdown in AI development. IT stocks have been a major laggard in market over the last year as new AI tools threatened the business models of traditional software services companies.

Meanwhile, HDFC Bank HDBK.NS, the country's top private lender and a heavyweight on the benchmark Nifty, rose 3% after it sent names of two candidates to the Reserve Bank of India for the role of CEO.



(Reporting by Vivek Kumar M; Editing by Sonia Cheema)

((VivekKumar.M@thomsonreuters.com;))

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