* NSE index up 0.57 pct, BSE index 0.5 pct higher
* Nifty bank index hits over one-month high
* IT stocks among top losers
By Shivam Srivastava
Jan 11 Indian shares rose for a second straight
session on Wednesday to a two-month high, tracking Asia peers
ahead of U.S. President-elect Donald Trump's news conference
later in the day that will give an initial insight into his
Asian shares pulled ahead to two-month highs on Wednesday,
while the Nasdaq ended at another record high on Tuesday.
Trump's plan for tax cuts and infrastructure spending has
boosted U.S. shares but his protectionist statements during the
election campaign have kept many investors guessing.
Investors were also growing hopeful that India's annual
budget to be unveiled on Feb. 1 would contain incentives for
companies to help prop up an economy being hit by a ban on
higher-value cash notes.
"Global markets are moving into multi-year highs and Indian
markets have underperformed in comparison," said an analyst with
broking firm Sushil Finance.
"Also, there is a possibility that budget expectations are
getting built in."
The broader NSE index was up 0.57 percent at
8,336 as of 0554 GMT, after climbing as much as 0.69 percent to
its highest since Nov. 11, 2016 earlier in the session.
The benchmark BSE index was 0.5 percent higher at
27,033.60 after rising as much as 0.67 percent to a two-month
Among the top gainers were financial stocks which accounted
for more than 50 percent of the gains, with the Nifty Bank index
rising as much as 1.58 percent to its highest since
Dec. 9, 2016.
Shares of IndusInd Bank Ltd climbed as much as
4.64 percent to its highest in two months after the company on
Tuesday reported a 29 percent jump in December-quarter net
profit to 7.5 billion rupees ($110.09 million).
Shares of Shiva Cement Ltd hit nearly a nine-year
high after the company approved a potential sale of certain
shares held by promoters to JSW Cement.
IT stocks were among the top losers with Tata Consultancy
Services Ltd shedding the most, down 1.14 percent,
followed by Infosys Ltd, which was 0.44 percent lower.
Both companies will report their quarterly results later
($1 = 68.2200 Indian rupees)
(Reporting by Shivam Srivastava in Bengaluru; Editing by