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Indian shares snap 4 days of losses on better corporate earnings
May 24, 2016 / 10:21 AM / 2 years ago

Indian shares snap 4 days of losses on better corporate earnings

May 24 (Reuters) - Indian shares edged higher on Tuesday, posting their first gain in five sessions after well-received corporate results, including from Tata Power, offset worries the U.S. Federal Reserve would increase rates as early as June.

The broader NSE index rose 0.23 percent to close at 7,748.85, after falling as much as 0.2 percent earlier in the session. The index has lost 2 percent over the previous four sessions.

The benchmark BSE index ended up 0.3 percent at 25,305.47.

Tata Power rose 1.5 percent after its fourth-quarter consolidated net profit doubled to 3.6 billion rupees ($53.24 million), beating analysts’ estimates.

For the midday report, click (Reporting by Aastha Agnihotri in Bengaluru; Editing by Biju Dwarakanath)

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