By Krishna V Kurup
(Reuters) - Indian shares rose on Tuesday led by index heavyweights such as HDFC Bank Ltd and Reliance Industries Ltd, with investor focus now on corporate earnings, starting with Tata Consultancy Services Ltd (TCS) later in the day.
Broader Asian shares were up for a third day as hopes of upbeat corporate earnings drove Wall Street higher.
"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, Director at Quantum Securities said, adding that the market is expecting a good earnings season this quarter.
"Crude concerns, however, lingers on."
Oil prices rose on Tuesday escalating concerns about potential supply shortages, with Brent crude leading the way as oil workers in Norway are set to strike later in the day after failed wage talks. That potentially adds to disruptions in other oil producing regions amid tensions in the Middle East.
Private-sector lender HDFC Bank gained 0.9 percent while conglomerate Reliance Industries was up 2.4 percent.
IT stocks also climbed, with Infosys Ltd rising 1 percent, while shares of HCL Technologies Ltd rose as much as 3.5 percent after the software services exporter said it will consider a buyback of its shares on Thursday.
TCS shares were 0.4 percent higher, ahead of its results.
(Reporting by Krishna V Kurup in Bengaluru; Editing by Sunil Nair)
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)