Indian shares rise after strong earnings; Tata Steel jumps
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BENGALURU - Indian shares rose modestly on Wednesday as a string of upbeat corporate earnings supported risk sentiment, with Tata Steel leading broad-based gains.
The NSE Nifty 50 index was 0.20% higher at 15,138.30 by 0350 GMT, while the S&P BSE Sensex was up 0.19% at 51,419.05.
All 14 sectoral indexes were higher and oil-to-telecoms conglomerate Reliance Industries provided the biggest boost to the Nifty 50 with a gain of 0.8%.
Tata Steel was the top gainer on the Nifty 50, rising 2.4% after it swung to a profit in the December quarter.
Financial results for four other Nifty 50 firms — watch and jewellery maker Titan, gas utility GAIL, aluminium group Hindalco, and motorcycle and truck producer Eicher — are expected later on Wednesday.
Other Asian stocks also inched higher on upbeat Wall Street earnings and optimism about a global recovery. [MKTS/GLOB]
(Reporting by Sachin Ravikumar in Bengaluru; editing by Uttaresh.V)
