BENGALURU, May 22 Reuters Indian shares struggled for direction on Wednesday, as investors avoided large bets due to uncertainty around the outcome of local general elections and ahead of the Federal Reserve minutes due later in the day.

The bluechip NSE Nifty 50 was up 0.19 at 22,571.1 points, while the SP BSE Sensex added 0.23 to 74,123.13, as of 1055 a.m. IST.

Foreign selling pressure and worries about the results of the national elections have been weighing on investor sentiment for the last two weeks. The volatility index  a key gauge for measuring market unease was hovering around 19month highs on Wednesday.

Markets are displaying their averseness to uncertainty, which is expected to persist till the outcome of general elections, Siddharth Oberoi, Founder of Prudent Equity said.

The results of the elections are due on June 4.

Meanwhile, minutes from the Fed39;s latest policy meeting will offer clues about the rate cut trajectory in the world39;s largest economy.

U.S. ratesensitive IT stocks added 0.42. Indian IT companies earn a bulk of their revenue from U.S. clients.

Reliance Industries, the secondheaviest stock on the Nifty 50, rose 1.7. The refiner was among the top gainers in the energy sector, which rose 0.74 as crude prices slipped for a third straight session.

Fast moving consumer goods companies, which are seen as defensive bets during volatility, rose 1.38, with Hindustan Unilever and Britannia Industries leading gains on the Nifty 50 index….