Reliance lifts Indian shares after five sessions of falls

  • Reuters
  • Stock Market News
Reliance lifts Indian shares after five sessions of falls

BENGALURU, Feb 23 (Reuters) - 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 .NSEI was up 0.53% at 14,752.45 by 0354 GMT, while the S&P BSE Sensex .BSESN gained 0.45% to 49,967.47.

On the Nifty 50, Reliance Industries RELI.NS 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. Nifty private sector banks index .NIFPVTBNK , which had fallen in the last five sessions, rose as much as 0.8%, led by a 1.2% climb in ICICI Bank ICBK.NS .

Tata Motors TAMO.NS jumped 3% after reports that the car maker expected to fare much better than the domestic auto industry. shares inched lower as rising U.S. Treasury yields and inflation prospects dented investor mood. MKTS/GLOB

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