IT leads rise in Indian shares

BENGALURU -Indian shares tracked Asian peers higher on Tuesday, led by information technology stocks, on hopes the U.S. Federal Reserve will start cutting rates from September.

The NSE Nifty 50 index was up 0.53% at 24,702.65 as of 10:10 a.m. IST, and the S&P BSE Sensex rose 0.51% to 80,839.08.

Ten of the 13 major sectors logged gains. IT companies, which earn a significant share of their revenue from the U.S., rose 1.2% and were the top sectoral gainers.