Indian Shares Rise For Third Day, Reliance And Tata Steel Lead Rally

Indian shares rose sharply on Monday, extending gains for a third consecutive session as heavyweight Reliance posted stronger-than-expected quarterly earnings and oil prices slumped amid diplomatic efforts to end the war in Iran.

Brent crude futures slumped more than 4 percent as ongoing discussions involving Iranian officials and Qatari mediators coupled with reports suggesting that U.S. President Donald Trump wants to give diplomacy with Iran more time before resuming strikes have raised hopes of possible breakthrough that could ease supply concerns and improve the outlook for global energy markets.