By Arnab Paul
Shares in Asia inched higher, following gains on Wall Street overnight after news of robust U.S. economic growth, with the chairman of the Federal Reserve saying the United States does not face a large chance of near-term recession.
MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.13 percent.
Domestic shares have been under pressure, with the Nifty 50 index shedding 4.7 percent in the last eight sessions, after concerns over bad debt in non-banking financial companies triggered a broad sell-off.
Investors found little cheer even after the government raised import tariffs on select goods and the central bank announced measures to ease liquidity concerns earlier this week.
"I think the markets will look to the RBI policy meet next week," said Vinod Nair, head of research at Geojit Financial Services.
The central bank is likely to raise interest rates in its October 5 policy meeting, despite relatively tame inflation, to prop up a retreating rupee, according to a Reuters poll of economists.
The broader NSE Nifty was up 0.24 percent at 11,003.95 as of 0555 GMT, while the benchmark BSE Sensex was 0.38 percent higher at 36,461.54.
"Support on Nifty on a one-year forward basis is 10,750," Nair added.
Financials were among the top gainers with Housing Development and Finance Corp and State Bank of India Ltd rising 2.2 percent and 2.5 percent, respectively.
Private-sector lender Yes Bank Ltd, down 6 percent, was the top percentage loser on the NSE index.
Shares of Gujarat State Petronet Ltd and GAIL (India) Ltd rose 4.05 percent and 6.35 percent, respectively, after Petroleum & Natural Gas Regulatory Board raised tariff for certain pipelines.
Among the decliners, e-commerce company Infibeam Avenues Ltd plunged 58.2 percent to its lowest since Nov. 9, 2016.
Shares of state-run construction company Ircon International Ltd fell as much as 13 percent on its trading debut after a 4.70-billion-rupee ($64.77 million) initial public offering.
($1 = 72.5700 Indian rupees)
(Reporting By Arnab Paul in Bengaluru; Editing by Vyas Mohan)
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)