Indian shares edge up in volatile trade, metals gain

BENGALURU: Indian shares edged up marginally on Tuesday in choppy trade after a weak start, trailing rest of Asia.

The NSE Nifty 50 index opened down 0.7% but recouped losses and was up 0.2% at 17,529.4 as of 0411 GMT, while the S&P BSE Sensex rose 0.1% to 58862.95.

Indian shares slip as banks weigh; investors secure gains

The Nifty metal index was up 1% while IT stocks declined with the Nifty IT index down 1.3%. Asian stocks declined after a spike in European energy prices stoked recession fears.

US Treasury yields topped 3% on Monday, aiding bearish sentiment.

“Early fall in other Asian indices could prompt investors to extend their profit-booking,” said Prashanth Tapse, Senior VP (Research), Mehta Equities.