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Sensex rises; HDFC Bank, IT stocks lead


By Krishna V Kurup

(Reuters) - Indian shares rose on Tuesday led by index heavyweights such as and Reliance Industries Ltd, with investor focus now on corporate earnings, starting with (TCS) later in the day.

shares were up for a third day as hopes of upbeat corporate earnings drove Wall Street higher.

MSCI's broadest index of shares outside was nearly unchanged.

The broader index was up 0.64 percent at 10,921.85 as of 0606 GMT, while the benchmark index rose 0.64 percent to 36,164.73.

"Most of the gains can be attributed to markets doing well globally. There may be some impact from weakening of the dollar as that may lead to some money coming back to emerging markets," Neeraj Dewan, at said, adding that the market is expecting a good earnings season this quarter.

"Crude concerns, however, lingers on."

prices rose on Tuesday escalating concerns about potential supply shortages, with Brent crude leading the way as workers in are set to strike later in the day after failed wage talks. That potentially adds to disruptions in other producing regions amid tensions in the

HDFC Bank gained 0.9 percent while conglomerate Reliance Industries was up 2.4 percent.

IT stocks also climbed, with rising 1 percent, while shares of rose as much as 3.5 percent after the said it will consider a buyback of its shares on Thursday.

TCS shares were 0.4 percent higher, ahead of its results.

Shares of climbed on reports that gave conditional nod to merge Vodafone's business with Idea.

(Reporting by Krishna V in Bengaluru; Editing by Sunil Nair)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, July 10 2018. 13:29 IST