July 1, 2020 / 4:16 AM / 12 days ago

Indian shares edge higher even as coronavirus cases surge

BENGALURU, July 1 (Reuters) - Indian shares inched higher on Wednesday as investor optimism was boosted by strong factory data out of China, offsetting fears of rising coronavirus cases, with Bharti Airtel Ltd leading small gains after a deal with Carlyle.

The NSE Nifty 50 index rose 0.25% to 10,327.65 by 0350 GMT, while the benchmark S&P BSE Sensex was up 0.3% at 35,019.67.

Broader Asian stocks struggled for traction as better than expected Chinese factory activity could not soothe persistent worries that a surge in coronavirus cases in the United States could hinder an economic recovery.

Cases in India jumped by more than 18,000 to 585,493 as of Wednesday morning, including 17,400 deaths, according to federal health ministry data.

Bharti Airtel topped gains in Mumbai, rising as much as 2.7% after Carlyle said it will buy a 25% stake in Bharti’s data centre arm for $235 million (Reporting by Chris Thomas in Bengaluru; Editing by Bernard Orr)

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