Indian shares inch higher as consumer stocks gain

Tata Consumer Products

01/06/2022 05:15

BENGALURU, June 1 (Reuters) - Indian shares edged up on
Wednesday, driven by consumer stocks, while data showed that the
country's economic growth slowed to the lowest in a year in the
first three months of 2022.
    The NSE Nifty 50 index  .NSEI  was up 0.24% at 16,625.05 by
0352 GMT, while the S&P BSE Sensex  .BSESN  rose 0.28% to
55,733.47. On Tuesday, both indexes snapped three straight
sessions of gains as a rally in technology stocks paused and
banking stocks fell.
    On Wednesday, Tata Consumer  TACN.NS  and Hindustan Unilever
 HLL.NS  rose over 1% each and were among the top percentage
gainers on the Nifty 50 index.
    After market hours on Tuesday, government data showed
India's gross domestic product grew 4.1% year-on-year in
January-March, below the 5.4% growth in Oct-December and growth
of 8.4% in July-Sept. urn:newsml:reuters.com:*:nL1N2XN0U7    
    Meanwhile, Asian stocks steadied although investors were
jittery after eurozone inflation rose to a record high and
stoked concerns about rate rises globally. MKTS/GLOB 

 (Reporting by Chandini Monnappa in Bengaluru; Editing by
Shailesh Kuber)
 ((Chandini.M@thomsonreuters.com; +918061822697;))