Indian shares edged up on Tuesday, led by gains in beaten-down metal stocks, while investors waited for minutes from the U.S. Federal Reserve's latest monetary policy to get cues on the central bank's future rate-hike path.
from the United States has heightened inflation concerns, sparking fears of a prolonged higher interest-rate regime in the world's largest economy. Minutes from the Fed's latest policy meeting is due on Wednesday.were top sectoral gainers, rising 0.9% as global metal prices rose. The index is down over 13% so far this year as weaker demand outlook weighed on metal prices.
Brokerage firm JP Morgan said in a note it continued to see attractive risk-reward for Indian metal firms. "With the kind of domestic, as well as global economic data coming in, we might see a selling in growth stocks and buying in value stocks," said Saurabh Jain, assistant vice-president, research, SMC Global Securities.
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