Indices in green as Sensex open 177 points higher, Nifty at 14,728.20
Indian shares rose on Tuesday after five straight sessions of falls, boosted by Reliance Industries after the company said it expected to receive approvals by the second quarter of the next fiscal year to hive off its oil-to-chemicals (O2C) business.
The NSE Nifty 50 index was up 0.53% at 14,752.45 by 0354 GMT, while the S&P BSE Sensex gained 0.45% to 49,967.47.
On the Nifty 50, Reliance Industries was the top boost, adding more than 2% after the conglomerate said late on Monday it expected to get approvals for O2C business spin-off by the second quarter and announced its aim to become "net carbon zero" by 2035.
The Nifty private sector banks index, which had fallen in the last five sessions, rose as much as 0.8%, led by a 1.2% climb in ICICI Bank.
Tata Motors jumped 3% after reports that the car maker expected to fare much better than the domestic auto industry.
Asian shares inched lower as rising U.S. Treasury yields and inflation prospects dented investor mood.
Enter your email to get our daily newsletter in your inbox
- FIMI said the restrictions had resulted in artificial oversupply of iron ore, leaving large quantities unsold and huge stockpiles in the mines.
- Indian Institute of Science in Bangalore retained its ranks for Materials Science (78th) and Chemistry (93rd).
- India’s vaccination campaign ramped up on Monday, with people above the age of 60, and individuals 45 or older suffering from certain medical conditions, now eligible for shots.
- The company, which relies heavily on digital advertising using user data, said it will not track individual-level data such as personally identifiable information (PII) graphs based on people’s email addresses.