Sensex, Nifty End Higher On Late Buying

Indian shares ended modestly higher on Thursday, after having traded lower for most part of the day.

The benchmark S&P BSE Sensex closed up 98.84 points, or 0.16 percent, at 61,872.62 while the broader NSE Nifty index settled 35.75 points, or 0.2 percent, higher at 18,321.15 amid the expiry of monthly derivative contracts.

Divis Laboratories, ITC, Bharti Airtel, Adani Enterprises and Bajaj Auto climbed 2-3 percent in the Nifty pack, while Hindalco, IndusInd Bank, Tata Motors and Wipro all were down around 1 percent.

Global cues were sluggish as U.S. debt ceiling talks dragged on and minutes from the Federal Reserve's May meeting showed officials were split over the need for rate rises.

U.S. House Speaker Kevin McCarthy, R-Calif., told reporters the two sides remain "far apart," with ongoing talks hitting a snag over Republicans' demand for spending cuts.

With just over a week left - including a holiday weekend - U.S. Treasury Secretary Janet Yellen reiterated her dire warning that the U.S. could have a hard time paying its bills.

Fitch Ratings placed the United States "AAA" credit on "rating watch negative," signaling downside risks to U.S. creditworthiness.

Data showed the German economy was in recession in early 2023, adding to recession worries.

The dollar traded higher in European trade and gold prices were mixed, while oil prices fell more than 1 percent after recent strong gains.

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