Indian shares rise 1.6pc on firm Asia, reform hopes

MUMBAI: Indian shares rose 1.6 percent in early trade on Monday as strong Asian markets and hopes the government will push more reforms after liberalising foreign investment in the retail sector.

At 9:18 a.m. (0348 GMT), the main 30-share BSE index was up 247.23 points at 15,940.27, with 25 all its components up.

The 50-share NSE index was up 1.54 percent to 4,782.1 points.

Last week, India approved 51 percent foreign direct investment in supermarkets, paving the way for firms such as Wal-Mart Stores Inc, Tesco and Carrefour to enter one of the world's largest untapped markets.