Indian shares rise as ICICI Bank gains on share sale offer

BENGALURU, Aug 11 (Reuters) - Indian shares rose and the Nifty gained for a sixth straight session on Tuesday as gains in ICICI Bank Ltd following the launch of a share sale put market fears over rising coronavirus cases on the back burner. The NSE Nifty 50 index rose 0.77% to 11,356.45 by 0349 GMT and the S&P BSE Sensex was up 0.83% at 38,496.04.

Private-sector lender ICICI Bank rose as much as 2.27% to a more than 2-week high and was the top gainer on the Nifty after it set floor price of 351.36 rupees per share for its qualified institutional placement.

The Nifty private banking index advanced over 1% in early trading.

On the Nifty 50, Titan Company Ltd was the top loser, slipping over 3% after the watch-maker logged a quarterly loss on Monday.

Meanwhile, coronavirus cases in India jumped by 53,601 to nearly 2.27 million as of Tuesday morning, including 45,257 deaths. (Reporting by Chandini Monnappa in Bengaluru; Editing by Arun Koyyur)