Indian Shares Rise Tracking Gains In Asia But US Economic Concerns Nag

Indian shares were higher, tracking buoyancy in other Asian markets, but nagging concerns over the US economy kept the gains in check.

At 0450 GMT the Bombay Stock Exchange''s benchmark Sensex was up 0.59 pct or 92.63 points at 15,689.46, while the National Stock Exchange''s S&P CNX Nifty was up 0.65 pct at 4,537.30.

Among the BSE 30, 26 shares advanced and 4 retreated. In the broader market 1,485 shares advanced, 403 declined and 39 were unchanged.

Asian markets had managed to pull away from their earlier lows, but a weaker-than-expected US jobs data last week rankled sentiment about a possible slow down in the largest economy.

Value-buying continued in shares of Indian consumer goods companies, which focus on domestic demand for revenues.

Cigarettes maker ITC Ltd rose 1.90 pct to 188 rupees and Hindustan Unilever Ltd gained 0.51 pct to 215 rupees.