Indian shares near record highs on Tata Motors, metals boost - Reuters India

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A general view of the Bombay Stock Exchange (BSE), after Sensex surpassed the 50,000 level for the first time, in Mumbai, India, January 21, 2021. REUTERS/Francis Mascarenhas

BENGALURU, Aug 25 (Reuters) - Indian shares hovered near record highs on Wednesday, boosted by Tata Motors and metal stocks, with sentiment aided by strength in global peers after worries about the tapering of the U.S. Federal Reserve's pandemic-era stimulus eased.

By 0350 GMT, the blue-chip NSE Nifty 50 index (.NSEI) was up 0.3% at 16,674, and the benchmark S&P BSE Sensex (.BSESN) was 0.26% higher at 56,105.3.

Shares of Tata Motors (TAMO.NS) jumped 2.5% after hitting its lowest since early-February on Tuesday.

The Nifty Metal index (.NIFTYMET) was up 0.98%.

Asian shares held onto recent gains after last week's pummelling, as global equities rebounded thanks to a combination of positive COVID-19 vaccine news and easing worries over the Fed's stimulus.

Meanwhile, against the backdrop of record-high Indian markets, a Reuters poll of analysts has found that the country's liquidity-driven stock market rally is expected to cool next year as global and domestic monetary policies start to tighten. read more

Reporting by Vishwadha Chander in Bengaluru; editing by Uttaresh.V

Our Standards: The Thomson Reuters Trust Principles.

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