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Indian shares rise on strong blue-chip earnings, IT gains

BENGALURU, Nov 4 (Reuters) - Indian shares edged higher on Wednesday following strong earnings from blue-chips Sun Pharmaceutical Industries and Adani Ports and SEZ (APSEZ), with IT stocks supporting gains.

The NSE Nifty 50 index rose 0.43% to 11,861.1 by 0350 GMT and the S&P BSE Sensex gained 0.48% to 40,451.57.

Drugmaker Sun Pharma and ports operator APSEZ were up 2.1% each after the companies reported upbeat profit for the September quarter.

The Nifty IT index gained 2.5%.

The Nifty banking and financial indexes slipped 0.5% and 0.6%, respectively, snapping two sessions of gains.

India’s biggest lender State Bank of India fell 0.8% ahead of its earnings scheduled for later in the day.

Meanwhile, MSCI’s broadest index of Asia-Pacific shares outside Japan shed 0.6% on an agonisingly close U.S. Presidential race, especially in major battleground states. (Reporting by Derek Francis in Bengaluru; editing by Uttaresh.V)

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