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Indian shares hit 6-month high on global cues; banks gain

BENGALURU, Aug 25 (Reuters) - Indian shares hit a six-month intraday high on Tuesday, taking cues from other Asian markets that rose on progress in U.S.-China trade talks and following another record close on Wall Street.

The NSE Nifty 50 index climbed 0.43% to 11,516.05 by 0355 GMT, while the benchmark S&P BSE Sensex gained 0.44% to 38,968.09. The Nifty 50 hit its highest intraday level since Feb. 27.

Financial stocks led gains on the Nifty 50, with the Nifty banking index rising 1.03%. ICICI Bank Ltd, HDFC Bank Ltd and HDFC Ltd were the top three boosts to the index, up between 0.4% and 1%.

Asia’s stock markets were mostly higher on reports that top U.S. and Chinese officials see progress being made in resolving concerns around the Phase 1 trade deal reached between the two countries in January. (Reporting by Sachin Ravikumar; editing by Uttaresh.V)

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