BENGALURU: Indian shares edged higher on Friday, helped by a surge in power stocks, while the gains were capped as investors awaited a critical US jobs data that would provide clues on interest rate hikes.

The NSE Nifty 50 index was up 0.33% at 17,604, as of 0352 GMT, while the S&P BSE Sensex rose 0.26% at 58,917.88.

The Nifty energy index gained 0.8%, lifted by a 3% gain in NTPC, after a report said Indian government has allowed public sector enterprises to import items for renewable energy projects from countries, including China.

Investors were eyeing US jobs report due later in the day for hints on the quantum of rate hikes by the Federal Reserve.

Indian shares fall over 1% on selloff in IT, energy stocks

Meanwhile, Moody’s Investors Service on Thursday lowered its 2022 growth forecast for India to 7.7% from 8.3% last year, citing rising interest rates, uneven distribution of monsoons and slowing global growth.