BENGALURU, July 18 Reuters Indian shares hit oneweek highs on Monday, as investors snapped up beatendown information technology and metal stocks, while a bounce in global equities also aided broader investor sentiment.

The NSE Nifty 50 index was up 0.81 at 16,180, as of 0509 GMT, while the SP BSE Sensex rose 0.76 to 54,192.08. Both the indexes hit their highest since July 11, after recording their first weekly loss in four on Friday.

The Nifty IT index, which is down more than 30 this year, gained 3.3.

The metals index, which has fallen over 28 in the last two months, rose 1.7. Industrial metal prices gained on Chinese regulators39; latest efforts to avert a potential crisis in the country39;s real estate market, which consumes a vast amount of metals.

It could be a relief rally due to the oversold positions in both IT and metals. Globally also cues are conducive, as the U.S. consumer data was on the positive side, said Ajit Mishra, vicepresident, research, Religare Broking.

U.S. economic data released on Friday surprised to the upside, with strongerthanexpected retail sales, an uptick in consumer sentiment, lower inflation expectations and cooling import prices.

Asian shares inched higher following a bounce on Wall Street at the end of last week.

In Mumbai, Bharat Electronics rose 4.2 on quarterly profit jump, while Den Network dropped 4.4 after reporting a slump in Junequarter profit.

HDFC Bank dropped 1.3 after India39;s largest private lender missed…