Wed, 03 Jun 2020

Mumbai (Maharashtra) [India], June 27 (ANI): Equity benchmark indices traded higher during early hours on Thursday in line with Asian stocks ahead of the meeting between US President Donald Trump and his Chinese counterpart Xi Jinping.

At 10:15 am, the BSE SP Sensex was up 132 points at 39,735 while the Nifty 50 gained 35 points to 11,883. Except IT, pharma and PSU bank, all sectoral indices at the National Stock Exchange were in the positive zone.

Among stocks, Coffee Day Enterprises soared 4 per cent after reports said that Coca-Cola has entered exclusive talks to pick up a significant stake in the company.

Bharti Infratel traded nearly 2 per cent higher while Indiabulls Housing Finance was up 1.6 per cent. The others which showed gains were IndusInd Bank, Tata Motors and Bharat Petroleum Corporation.

However, Tech Mahindra, Sun Pharma, Dr Reddy and Power Grid were under selling pressure.

Meanwhile, Asian stocks edged up though volumes were lower across the board. Shares in Japan, South Korea and Hong Kong saw modest gains.

US President Donald Trump indicated optimism on Wednesday for a trade agreement with China but said he is still considering imposing tariffs on all Chinese imports.

Hopes that the world's two largest economies will finally reach an agreement on trade disputes cheered investors. Relations between Washington and Beijing have spiralled downward since trade talks collapsed in May.


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