BENGALURU, Nov 21 Reuters Indian shares rose on Tuesday, led by a rebound in financials after a twosession lull, while information technology IT stocks extended gains amid a global stock rally on expectations that U.S. interest rates have peaked.

The NSE Nifty 50 index rose 0.37 to 19,766.50 points and the SP BSE Sensex was up 0.36 at 65,887.94, respectively, as of 1012 a.m IST.

Twelve of the 13 major sectors advanced. High weightage financials gained 0.5, snapping a twosession losing streak after Reserve Bank of India tightened norms for consumer credit.

IT companies, which earn a significant share of their revenue from the U.S., extended gains on hopes that the U.S. Federal Reserve will not hike rates further in this cycle.

Since soft U.S. inflation data on November 14, IT index has gained 6.33.

Asian markets are up as well, tracking an overnight Wall Street rally to multimonth highs. The MSCI Asia exJapan index is up 1.12.

Focus will be on the minutes of the latest Fed meeting, for cues into the central bank39;s rate outlook said Siddhartha Khemka, head of retail research at Motilal Oswal Financial Services. The Fed policy minutes is due post market hours.

Smallcaps and midcaps gained about 0.4 each and hit fresh record highs.

Metals gained 1.5 while realty index added 1.

Oberoi Realty added 2 after announcing launch of a luxury residential project in Thane, Maharashtra.

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