Plus   Neg

Sensex, Nifty Finish Higher After Late-day Recovery

Indian shares ended slightly higher on Wednesday after a volatile day.

Markets started the day on a strong note but failed to hold opening gains, given mounting concerns over lack of liquidity in the system and the tardy progress of the monsoon that is critical for the economy.

Late recovery helped the benchmark BSE Sensex end the session up 66.40 points or 0.17 percent at 39,112.74 while the broader Nifty index ended virtually unchanged at 11,691.45.

IndusInd Bank, Adani Ports, UPL, Yes Bank and Indiabulls Housing Finance tumbled 3-8 percent while NTPC, Kotak Bank, Zee Entertainment Enterprises and Tata Steel climbed 2-5 percent.

Positive global cues lent some support after U.S. President Donald Trump tweeted that he had a "very good" telephone conversation with Chinese President Xi Jinping and will have an "extended meeting" at the G20 summit next week.

"Had a very good telephone conversation with President Xi of China. We will be having an extended meeting next week at the G-20 in Japan. Our respective teams will begin talks prior to our meeting," Trump tweeted.

Investors are also betting on a worldwide wave of central bank stimulus after ECB President Mario Draghi suggested the bank will announce more stimulus through rate cuts or asset purchases - if inflation doesn't pick up.

Investors now wait to see whether the U.S. central bank would follow the lead of the European Central Bank and open the door to future rate cuts.

For comments and feedback contact: editorial@rttnews.com

Follow RTT