India shares edge higher; Tata Motors Q2 profit jumps three-fold

India shares rises high on Thursday after a two-day selloff, along with distinctly visible profits in other regional markets.

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. REUTERS

India shares edged higher on Thursday after a two-day selloff, tracking gains in other regional markets.

Asian shares held near decade peaks following another record breaking day on Wall Street.

MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.3 percent and in close reach of a 10-year high set the previous day.

Wall Street rose overnight thanks to a rally by videogame makers, with all three major indexes closing at record highs.

The S&P BSE Sensex rose 0.1 percent at 33,250 while the broader NSE Nifty gained 0.06 percent to 10,309.

Among the top Sensex gainers, Asian Paints rose 1.9 percent, ICICI Bank advanced 2 percent, Reliance Industries gained 1.8 percent while Tata Steel was up 1.9 percent.

Hester Biosciences gained 1.3 percent after its second-quarter profit rose to Rs 8.86 crore versus profit of Rs 6 crore a year ago.

Bharti Airtel shares rose 2.4 percent after ending 4 percent lower in the previous session on multiple block deals.

State Bank of India up 1.7 percent ahead of its September quarter earnings on Friday.

Tata Motors added 0.5 percent after posting a three-fold rise in September-quarter profit, beats estimates.

Market breadth was in the favour of gainers, with about 2 stocks advancing to every 1 stock that declined.

This article was first published on November 9, 2017