(Reuters) – Indian shares rose on Friday, in line with broader Asia, as the United States and China returned to resolving their tariff dispute and on hopes that central banks and governments will do more to avert a global growth slowdown.
The broader NSE Nifty rose 0.42% to 10,992.55 as of 0409 GMT, while the benchmark BSE Sensex inched 0.42% higher to 37,220.12. Both the indexes were poised tO finish the week higher.
Broader Asian stock stocks inched higher with sentiments improving after U.S. President Donald Trump said some trade discussions were taking place with China.
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 1% to its highest since Aug. 23.
Domestic investors awaited GDP data for the April-June quarter due later in the day.
Metal and mining stocks were the top gainers on the NSE Nifty, with the Nifty metals index rising as much as 1.61%. Of the 15 constituents on the metal index, 14 stocks were trading in the positive territory.
The Nifty PSU bank index that tracks state-owned lenders rose as much as 0.98%, with a 1% rise in State Bank of India.
Among the losers, shares of rating agency ICRA Ltd slipped as much as 4.68%. The Indian unit of Moody’s Investors Service on Thursday said it had removed Chief Executive Officer Naresh Takkar.
Reporting by Chandini Monnappa in Bengaluru; Editing by Rashmi Aich