BENGALURU, Feb 6 Reuters Indian shares shrugged off a dull start to move higher on Tuesday, led by information technology stocks on improving prospects of a soft landing in the U.S. economy, although a drop in energy stocks kept a lid on gains.

The NSE Nifty 50 index added 0.38 at 21,853.25 as of 1021 a.m. IST, while the SP BSE Sensex edged up 0.38 at 72,003.52.

With two key events the Federal Reserve policy decision and India39;s budget behind, the markets are consolidating near record high levels, said Siddhartha Khemka, head of retail research at Motilal Oswal Financial Services.

Earningsled, stockspecific action is likely to influence the nearterm trajectory of domestic equities, Khemka said.

The IT index rose 2.2 after strong U.S. services sector growth data provided further evidence of strength in the world39;s largest economy, a key geography for India39;s software companies.

Meanwhile, data showed foreign portfolio investments added IT stocks, on a net basis, while they offloaded shares in most other major sectors.

Tata Consultancy Services, HCLTech, Wipro gained between 2.5 and 4 and were among the top four Nifty 50 gainers.

Energy stocks eased 0.3, after gaining 5.72 in the last four sessions.

Among individual stocks, Paytm rose about 4, rebounding off a record low. It has slumped about 42 in three days after a regulatory crackdown on its payments bank. Reuters reported that India39;s federal antifraud agency was investigating foreign exchange rules…