Indian shares closed higher on Friday as optimism over US-China trade negotiations whetted investor appetite for riskier assets. Software services company Infosys Ltd reported a slight dip in its September-quarter results. Rival Tata Consultancy Services had kicked off India's corporate earnings season on Thursday, and in the quarter ended September company profits were expected to be muted, given a slowdown in the domestic economy.
The broader NSE index ended 0.63% higher at 11,305.05, while the benchmark BSE index closed up 0.65% at 38,127.08. Both indexes closed 1.2% firmer on-week. Metal and information-technology sectors led gains in both indexes. The metals index closed 2.35% firmer, while the IT index ended 1.5% higher. Cipla Ltd and Infosys were top gainers in the Nifty 50 index, each closing 4% firmer.
Yes Bank closed 3.3% lower, making it the top loser in the Nifty index after the lender's single-largest shareholder and co-promoter's family said they were willing to dilute stake if other investors come in.
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