BENGALURU: 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 was up 0.24% at 16,625.05 by 0352 GMT, while the S&P BSE Sensex 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 and Hindustan Unilever rose over 1% each and were among the top percentage gainers on the Nifty 50 index.
Banks, tech stocks drag Indian shares lower
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.
Meanwhile, Asian stocks steadied although investors were jittery after eurozone inflation rose to a record high and stoked concerns about rate rises globally.
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