BENGALURU, Sept 10 (Reuters) - Indian shares rose on
Thursday, boosted by a jump in Reliance Industries Ltd
after reports of more potential investments in its retail arm,
while a halt in selling on Wall Street sent stock markets across
The blue-chip NSE Nifty 50 index rose 0.73% to
11,360.55, while the benchmark S&P BSE Sensex was up
0.82% to 38,508.29 by 0456 GMT.
India's most valuable company Reliance rose as much as 2.7%
to hit a record high, a day after it secured $1 billion in
investment in its retail business from private equity firm
Silver Lake. Middle East sovereign firms are also in talks to
buy stakes in the retail arm, according to the reports on
"Reliance has gained expertise in the investment process
through their fund raising in (their Jio Platforms digital
business) and now they are repeating it in retail...some more
upside may be there in the near term," said Deepak Jasani, head
of research at HDFC Securities in Mumbai.
Reliance, whose primary business is oil, also helped the
Nifty energy index rise 1.73%.
The Nifty bank index rose 0.77%, with IndusInd
Bank rising as much as 3.8% to be among the top
percentage gainers on the Nifty 50.
India's top court is set to continue hearing a case on loans
under a moratorium later today, with banks fighting for interest
not to be waived.
Telecom infrastructure company Bharti Infratel Ltd
and agricultural solutions provider UPL Ltd were among
the top laggards on the Nifty, falling as much as 1.9% and 1.5%
(Reporting by Anuron Kumar Mitra in Bengaluru; editing by