INSUBCONTINENT EXCLUSIVE:
Domestic equity markets opened with gains on Wednesday after US President Donald Trump expressed renewed hopes of a deal with China.
Trump
said on Tuesday that US and China are close to an agreement on the first phase of a trade deal after top negotiators from the two countries
spoke by telephone and agreed to keep working on the remaining issues.
But while Trump said Washington was in the "final throes" of work on
a trade deal with Beijing, he also underscored US support for protesters in Hong Kong, seen as a sore point for Beijing.
BSE flagship Sensex
was up 213 points to trade at 41,034 while its NSE counterpart Nifty was up 57.65 points at 12,095
Broader market indices were also trading in the green as Nifty Midcap advanced 0.46 per cent to 16,993
Nifty Smallcap added 0.3 per cent and Nifty 500 edged 0.47 per cent higher to 9,808.
Among top Sensex gainers was YES Bank that surged 5.21
per cent to Rs 66.70 after the lender said that its board of directors will meet on Friday to consider fundraising through issue of fresh
equity.
Tata Motors was up 2.87 per cent to Rs 168.50 while Mahindra - Mahindra was up 2.19 per cent to Rs 550.40
Only four Sensex stocks were trading in the red
Except realty, all sectoral indices on NSE were trading with gains
Nifty Auto was the biggest gainer, up 1.42 per cent to 8,215
Tata Motors, Ashok Leyland and M-M were major gainers on the index.
Globally, Asian shares rose as upbeat signals from Sino-US trade talks
fanned hopes of an easing of tariff hostilities, while expectations of the Federal Reserve keeping interest rates low supported
sentiment.
The positive mood pushed Wall Street indexes to fresh record closing highs on Tuesday and stoked confidence in Asia with MSCI's
broadest index of Asia-Pacific shares outside Japan up 0.19 per cent
Australian shares added 0.65 per cent and Japan's Nikkei rose 0.36 per cent.
Chinese blue-chip shares, in contrast, dropped 0.39 per cent
after the data showed profits at China's industrial firms declined in annual terms for the third consecutive month in October, tracking
sustained drops in producer prices and exports and underscoring slowing momentum in the world's second-largest economy.