Domestic stock markets started Wednesday’s session on a strong note tracking gains in Asian peers on hopes of a US-China trade deal. The Sensex jumped as much as 269 points to touch 36,250, while the Nifty advanced 66.95 points – or 0.6 per cent – to 10,869, supported by buying in information technology stocks. At 9:34 am, the Sensex was trading 211.22 points higher at 36,192, and the Nifty was up 57 points at 10,859. Top gainers on the 50-scrip index were Infosys, TCS, Axis Bank and Tata Motors, trading between 1.1 per cent and 2 per cent higher.
Increasing optimism that China and the US will be able to hammer out a deal to help ease their trade war provided the impetus for more gains across Asian markets on Wednesday. In morning trade, Hong Kong rose 2.4 per cent and Shanghai added 1.6 per cent, while Tokyo went into the break 1.3 per cent higher.
The mood among dealers has improved markedly this week as officials from China and the US hunker down for trade negotiations in Beijing that have extended into a third day. US President Donald Trump on Tuesday described them as going “very well”, news agency AFP reported.
The Sensex ended a choppy trading session on Tuesday 130 points – or 0.4 per cent – higher at 35,980, while the Nifty rose 30 points to 10,802.
Analysts say investors will closely watch the key corporate earnings due this week for domestic cues.
(With agency inputs)