Indian shares log new highs led by FMCG, metal stocks

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BENGALURU (Reuters) - Indian stocks opened higher and logged record highs yet again on Tuesday, aided by an uptick in metal stocks, tracking Asian peers that rebounded after China's decision to support property developers to boost demand.

The S&P BSE Sensex rose 0.35% to 62,722.34, touching record high level for fourth day in row, as of 0925 IST. The NSE Nifty 50 index gained 0.37% to 18,631.65, hitting record high for second straight day.

Both indexes had notched closing highs for the third straight session on Monday.

Nifty Metal rose the most among sectoral gauges, adding 1%.

Asian markets shrugged off a weak start on Tuesday after China lifted ban on equity refinancing for listed property firms. The MSCI Asia ex-Japan index rose 1.81%. [MKTS/GLOB]

Wall Street equities fell overnight on Monday, on COVID protests in China and ahead of commentary from Federal Reserve for any clues on its future rate hiking path.

Shares of New Delhi Television rose 5% to hit an upper circuit after the company's promoter group RRPR holding issued shares constituting 99.5% of its share capital to Adani group-owned Vishvapradhan Commercial.

($1 = 81.6400 Indian rupees)

(Reporting by Bharath Rajeswaran in Bengaluru; Editing by Dhanya Ann Thoppil and Eileen Soreng)


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