Indian shares ended Thursday's trade with gains, in line with gains in broader Asia, as trade sentiment buoyed on US president Donald Trump hinting at a possible Sino-US trade deal. The Chinese commerce ministry also said Beijing is in close communication with Washington and is preparing to make progress at trade talks in October.
The Nifty 50 closed 1.2 percent, or 131 points, higher at 11571.20, while the benchmark 30-share S&P BSE Sensex ended up 1.03 percent, or 396.22 points, at 38989.74. Thursday's gains helped indices recover a large part of its losses from Wednesday's trade.
Broader market indices also moved higher with the Nifty MidCap index rising 0.81 percent. The BSE MidCap also rose 0.92 percent. Except IT, all major sectoral gauges moved higher led by metal, auto, banks, finance and pharma.
Vedanta, Coal India, M&M, Zee Entertainment and IOC were among major gainers on the indices, while losers were Yes Bank, Infosys, HUL, HCL Tech and Wipro.
Shares of Vedanta closed over 6 percent higher on the NSE after a Department of Divestment and Public Asset Management official said the government was looking to sell stake in Hindustan Zinc. As on June 30, Vedanta held 64.92 percent stake in Hindustan Zinc.
Shares of Jubilant Foodworks fell as much as 5.2 percent to Rs 1,374 after global brokerage Credit Suisse downgraded the stock to 'underperform' from 'neutral' and cut its target price to Rs 1,200 per share. At close, its shares quoted at Rs 1,409 apiece, down by 2.8 percent.
GlaxoSmithKline Pharma dropped nearly 4 percent intra-day after the pharma major suspended distribution of its Ranitidine drug, used to treat stomach-related issues. It recovered from the day's low to end at Rs 1425 per share, down by 0.77 percent.
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