Economic News

Nifty, Sensex surge as trade deal hopes lift investor sentiment

FILE PHOTO: A broker reacts while trading at his computer terminal at a stock brokerage firm in Mumbai, India, December 11, 2018…. Francis Mascarenhas December 26, 2019 12:14pm IST

BENGALURU – Indian stocks ended higher on Thursday, led by a surge in metals and infrastructure stocks, as hopes that the U.S. and China will sign a trade deal soon bolstered risk appetite.

The Nifty ended up 0.8% at 12,282.20 on the second trading day of the year, a record closing high, while the Sensex climbed 0.77% to 41,626.01.

Shares of Indian metal companies rose, with the Nifty sub-index for metals ending up 2.7%, while the Nifty Infrastructure index rose 1.4%.

Meanwhile, U.S. President Donald Trump said on Tuesday he would sign the Phase 1 trade deal with China on Jan. 15.

Tata Motors was the top gainer in the Nifty 50 index, ending up 5.10%, while Eicher Motors ended as the top loser, falling 2.30%.

Reuters

Jan 2, 2020

Reporting by Nallur Sethuraman in Bengaluru; Editing by Rashmi AichOur Standards:The Thomson Reuters Trust Principles.

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Categories: Economic News, India News

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