logo
Plus   Neg
Share
Email

Sensex Ends Up 139 Points; Nifty Nears 11,700

Indian shares ended modestly higher on Monday as the latest readings on industrial output and retail inflation helped reiterate investor expectations for further policy easing by the RBI this year.

Positive global cues amid signs of progress in the U.S.-China trade talks and an encouraging start of the earnings season by IT major TCS also helped underpin investor sentiment.

Optimism prevailed on the trade front after U.S. Treasury Secretary Steven Mnuchin said on Saturday a U.S.-China trade agreement would go "way beyond" previous efforts to open China's markets to U.S. companies.

Mnuchin told the media on the sidelines of the spring meetings of the International Monetary Fund and World Bank that he believed Washington and Beijing are getting close to the final round of concluding issues.

The benchmark 30-share BSE Sensex ended the session up by 138.73 points or 0.36 percent at 38,905.84 while the broader Nifty index rose by 46.90 points or 0.40 percent to 11,690.35.

Tata Motors soared as much as 7.4 percent to hit a fresh six-month high on expectations of improved outlook.

TCS jumped 4.9 percent on positing record performance and sounding optimistic about sustaining double-digit growth.

On the other hand, Infosys lost 2.6 percent on saying it expects headwinds in the form of wage hikes in H1FY20 and normalization of bad debt provisioning.

Network 18 Media & Investments tumbled 3.8 percent after it reported a consolidated net loss of Rs 75.57 crore in the fourth quarter ended March 31.

For comments and feedback contact: editorial@rttnews.com

Follow RTT