INDIA STOCKS — Indian shares edge higher as oil eases; IPO rush, IT and Tata drag cap gains

(Updates for morning trade) By Bharath Rajeswaran Sept 18 (Reuters) — Indian shares inched higher on Friday, as lower oil prices and bargain buying after recent losses outweighed a drop in IT companies and Tata Group firms, while strong demand for domestic IPOs sucked out liquidity from secondary markets, capping gains. The Nifty 50 rose 0.14% to 23,302.40, while the BSE Sensex added 0.13% to 74,415.50, as of 10:33 a.m. IST. Fifteen of the 16 major sectors advanced. The broader small-caps and mid-caps gained 0.9% and 0.4%, respectively. Most Tata Group stocks fell, with TCS, Tata Motors Passenger Vehicles, Tata Investment, and Tata Chemicals falling 2.5% to 8.5%. They had advanced in the previous session after Tata Sons reappointed N. Chandrasekaran as chairman and said it would consider a public listing, while shareholder Shapoorji Pallonji Group proposed selling part of its stake. Brent crude fell 1.3% to $103.5 a barrel as hopes that alternative routes could keep Middle Eastern barrels flowing to global markets outweighed concerns over renewed strikes between Saudi Arabia and Yemen's Houthi movement. O/R Five Indian IPOs are currently open for subscription, including the Nationa