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Benchmark indices close on a high note, Sensex at 36,443

Benchmark indices close on a high note, Sensex at 36,443

Mumbai: Equity benchmark indices edged higher on Tuesday with the rally led by metals, auto, and public sector banking stocks.

The Bombay Stock Exchange S&P Sensex closed 379 points up at 36,443 while the National Stock Exchange Nifty 50 inched towards 11,000 marks and closed 124 points higher at 10,987.

Tata Motors, Eicher Motors, Indiabulls Housing Finance, HPCL, and BPCL were the top gainers. The losers included Wipro, Tech Mahindra, Infosys, HUL and Cipla.

In the morning session, most stocks traded flat as investors remained cautious after US President Donald Trump said he plans to end GSP preferential trade treatment for India. That gave a setback to scrips of IT companies for whom the United States is the biggest market.

But the last hour of trading reversed broad trends, driven by gains in financial stocks like Axis Bank and HDFC Bank.

Meanwhile, most Asian markets traded lower as China cut its growth target from 6.5 to 6 percent this year. There were also rising concerns over a dispute on trade and technology with the United States.

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