Indian shares inch up as metal, energy stocks gain

The NSE Nifty 50 index was up 0.16% at 17,372.85, as of 0352 GMT, and the S&P BSE Sensex rose 0.21% to 58,256.39.

Indian shares opened slightly higher on Wednesday, with metal, energy and information technology stocks gaining, as investors eye the central bank's policy meeting outcome expected later this week.

A man looks at a screen across a road displaying the Sensex on the facade of the Bombay Stock Exchange (BSE) building in Mumbai, India. (File image) (REUTERS)

The NSE Nifty 50 index was up 0.16% at 17,372.85, as of 0352 GMT, and the S&P BSE Sensex rose 0.21% to 58,256.39.

Market participants will turn focus to the Reserve Bank of India's (RBI) three-day monetary policy meeting which begins on Wednesday.

With inflation at multi-year highs, the RBI's monetary policy committee is seen raising rates, though the views on the quantum of increase were split wide between 25 basis points and 50 basis points, a Reuters poll of economists showed.

In domestic trading, the Nifty's metal index, energy index and IT index rose between 0.4% and 0.5%.