for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

Indian shares rise led by financials, Reliance Industries

BENGALURU, June 8 (Reuters) - Indian shares rose on Monday, lifted by gains in financials and a surge in Reliance Industries after its digital unit received multiple investments over the last three days, while upbeat U.S. jobs data perked up broader risk appetite.

The NSE Nifty 50 bluechip index rose 1.73% to 10,313 by 0346 GMT, while the S&P BSE Sensex was up 1.79% at 34,901.41. Both the indexes have gained over 11% in the past two weeks.

Among individual stocks, Reliance Industries rose 2.1% after it said on Sunday that the Abu Dhabi Investment Authority will buy 1.16% of its digital unit Jio Platforms for 56.83 billion rupees ($752 million).

On Friday, Abu Dhabi’s state fund Mubadala Investment Co said it would purchase a 1.85% stake in Jio Platforms for 90.93 billion rupees, while private equity fund Silver Lake, co-investors said they would invest extra $601 million in Jio.

Reliance shares hit a fresh record high of 1,618.40 rupees on Monday. The Nifty banking index gained 3%.

Meanwhile, U.S. stock futures and Asian shares advanced on Monday after a surprise recovery in U.S. employment gave further confidence of a quick economic recovery. (Reporting by Nallur Sethuraman in Bengaluru; Editing by Shailesh Kuber)

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up