Indian stocks surged on tech boom.

A security guard walks past the logo of the National Stock Exchange (NSE) in Mumbai, India, May 28, 2019.

BENGALURU, Aug 25 (Reuters) – Indian shares opened higher on Thursday, supported by a mild improvement in the technology sector, as investors awaited clues on future rate hikes from a key event by the U.S. Federal Reserve.

The NSE Nifty 50 Index (.NSEI) was up 0.4% at 17,681.6 by 0353 GMT, while the S&P BSE Sensex (.BSESN) was up 0.47% at 59,367.77.

Bharti Airtel ( BRTI.NS ) rose 2% after Singapore Telecommunications Ltd ( STEL.SI ) said it would sell its 3.3% stake in Airtel to Bharti Telecom for a total of $1.61 billion. Read more

IT stocks gained, leading the Nifty IT index (.NIFTYIT) up 0.5%, after ending at a three-session low.

Investors are now focused on the Jackson Hole Symposium, where comments from Fed Chairman Jerome Powell on Friday could provide clues about the pace of future rate hikes and whether the central bank can provide a comfortable accommodation for the economy.

Asian shares rose and Wall Street ended higher on Thursday.

Crude prices gained after Saudi Arabia indicated that the Organization of the Petroleum Exporting Countries may consider production cuts.

Reporting by Tanvi Mehta in Bengaluru; Editing by Dhanya Ann Thoppil

Our standards: The Thomson Reuters Trust Principles.