* NSE, BSE indexes up about 0.1 pct
* Auto stocks lead gains, Tata Motors up 2.3 pct
* Focus on quarterly corporate results, govt budget-analyst
By Samantha Kareen Nair
Jan 4 Indian shares edged up on Wednesday
tracking U.S. and Asian counterparts on upbeat global economic
data, but gains were tempered by caution ahead of corporate
results and the government's annual budget.
Shares in the U.S. and Asia were boosted by a round of
factory surveys from China, the euro zone and United States that
pointed to more momentum in the global economy.
U.S. factory activity accelerated to a two-year high in
December, while manufacturing in the euro zone grew at its
fastest pace in five years and China's factory activity was
better than expected.
"While positive global data could help strengthen foreign
inflows which in turn could support market gains, the market is
unlikely to find a big direction for now because key focus is on
the budget session and upcoming earnings season," said
Siddhartha Khemka, head of research at Centrum Wealth.
Corporate results are scheduled to start next week and the
government's budget is due on Feb. 1.
India's services industry ended 2016 on a sour note,
contracting for a second month in a row in December as orders
shrank amid a severe cash shortage, according to a private
business survey on Wednesday.
The broader NSE index was up 0.12 percent at 8,202.2
as of 0514 GMT, while the benchmark BSE index was 0.07
percent higher at 26,662.63.
Auto stocks contributed most to gains on the indexes, rising
as much as 1.1 percent to their highest since Nov. 11. Tata
Motors and Bajaj Auto were up 2.3 percent
and 1.1 percent, respectively.
Denim fabric manufacturer Nandan Denim Ltd surged
as much as 13.5 pct to its highest since Nov. 16 after the
Reserve Bank of India raised the company's foreign investment
Bharti Airtel declined for a second session,
falling as much as 1.7 percent after the company said it would
offer free data to woo new and existing 4G customers,
intensifying a price war in the sector.
(Reporting by Samantha Kareen Nair in Bengaluru; Editing by