Sensex Ends Up 125 Points; Nifty Stays Above 11,000
(RTTNews) - Indian shares ended a tad higher on Wednesday despite mixed global cues.
While automakers rallied on hopes of possible policy support from the government, the overall upside remained capped by selling in IT stocks.
The benchmark S&P BSE Sensex ended the session up 125.37 points, or 0.34 percent, at 37,270.82 while the broader NSE Nifty index rose by 32.65 points, or 0.30 percent, to 11,035.70.
Yes Bank shares jumped as much as 13 percent amid reports that its founder Rana Kapoor is in talks with One97 Communications, owner of Paytm, to sell his stake in the private sector lender.
Tata Motors soared 10.7 percent after the company reported a recovery in August retail sales for China market.
SBI, IndusInd Bank, Bajaj Auto, Vedanta, Tata Steel, JSW Steel, Maruti Suzuki and Eicher Motors climbed 3-5 percent.
Zee Entertainment Enterprises lost 2.6 percent as Essel Group announced completion of the first tranche of stake sale in the company.
HCL Technologies, GAIL, Wipro and ONGC all fell around 3 percent.
Globally, other Asian markets ended on a mixed note as investors adopted a cautious stance ahead of the European Central Bank's meeting on Thursday, at which policymakers are widely expected to cut interest rates, ramp up asset purchases or both.
European stocks rose in early trade as investors cheered signs of a thaw in the U.S.-China trade dispute.
Ahead of talks scheduled for next month, China announced that it would exempt 16 American-made products from tariffs as a sign of goodwill.