Domestic stock markets ended on a higher note after swinging between gains and losses on Monday.
The S&P BSE Sensex index rose as much as 93.83 points to hit 40,417.44 on the upside, and the broader NSE Nifty benchmark advanced to as high as 11,932.65, up 24.5 points from the previous close.
Gains in banking stocks especially state-run lenders were offset by losses in info-tech technology and pharma shares. For the most part of the day, the benchmarks traded lower but buying in banking shares which pushed the banking sub-index – Nifty Bank index above 31,000-mark, helped the Sensex and Nifty close on a marginally higher note.
Vedanta, Hero MotoCorp and TCS were the top losers on Sensex. YES Bank and Tata Motors were top Sensex gainers.
Auto, IT, Pharma and metal shares 16had limited gains.
In global cues, the 16-month trade war between the world’s two biggest economies diminished as investor’s sentiments as uncertainty still remained over whether the United States and China could end their damaging trade war.