BENGALURU, July 15 (Reuters) - India's blue-chip Nifty 50 rose to record highs on Monday led by information technology stocks after results from top-tier IT companies indicated signs of demand recovery for the sector.

The NSE Nifty 50 rose about 0.4% to a record high of 24,598. It is up 0.25% as of 10:15 a.m. IST, while the S&P BSE Sensex added 0.2% to 80,654 points, just shy off record high levels hit on Friday.

Strong buying in the IT sector following TCS results triggered a much-needed impetus for the benchmark Nifty 50 index, said Angel One analyst Sameet Chavan.

Despite the markets appearing overbought... there are no signs of weakness, Chavan added.

The IT index rose about 1.3% to an all-time high at the open, becoming the top percentage gainer among 13 major sectors.

HCLTech rose about 3.5% after it posted a rise in June-quarter revenue and projected growth in most verticals and geographies in the ongoing quarter, post closing bell on Friday.

Tata Consultancy Services, the country's top software services provider has risen about 7.5% in two sessions after beating quarterly revenue expectations post market hours of Thursday.

Indian IT companies, which earn a significant share of revenue from the U.S., have also gained about 8% in the previous two weeks, helped by firming bets of a September U.S. rate cut.

The odds of a 25 basis point rate cut have risen to about 90% from about 70% a week ago, according to the CME FedWatch Tool, on the back of recent soft labour market and inflation data.

Eight of the 13 major sectors logged gains. The broader, more domestically focussed small- and mid-caps were little changed.

Among individual stocks, Avenue Supermarts gained about 4% after the operator of DMart retail store chain posted a 17.5% rise in first-quarter net profit on Saturday.

Indian Renewable Energy Development Agency climbed 6% on posting rise in net profit in June quarter.

(Reporting by Manvi Pant and Bharath Rajeswaran in Bengaluru; Editing by Varun H K and Nivedita Bhattacharjee)