Indian shares ended higher on Tuesday, in line with broader Asian markets, led by gains in banking and metal stocks. Heavyweights like ICICI Bank, Reliance Industries, HDFC Bank and TCS also lifted the indices.

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Sentiment remained positive in globals markets as investors heaved a sigh of relief after America shelved plans to impose tariffs on Mexico, and on hopes that US interest rates will be cut as early as next week.

The Sensex ended 166 points higher at 39,950, while the broader Nifty50 index added 43 points to end at 11,966. Among broader markets, the Nifty Midcap gained 0.6 percent, while the Nifty Smallcap index was flat.

YES Bank, Tata Motors, IndusInd Bank, Zee Entertainment and JSW Steel were among the top gainers on the Nifty50, whereas Indiabulls Housing Finance, Sun Pharma, M&M, BPCL and Tech Mahindra led the losses.

All sectoral indices, except the Nifty Realty and the Nifty FMCG, gained during the day. The Nifty PSU Bank index was the best performing sector, up 1.7 percent followed by the Nifty Metal, up 1.4 percent and the Nifty Media, up 1.2 percent for the day. The Nifty Bank and the Nifty Pvt Bank gained over 0.7 percent each for the day.

Vedanta gained over 2 percent as copper prices extended gains to a nearly three-month high on hopes of higher Chinese imports.

Among losers, shares of Indiabulls Housing Finance was the top loser on the Nifty, down over 8 percent after a plea was filed in the Supreme Court yesterday seeking legal action against the company's chairman and directors for alleged misappropriation of Rs 98,000 crore of public money. The company has called the allegations as part of a larger criminal conspiracy against them.

Sun Pharma dropped 2.6 percent intraday on June 11 after brokerage firm Goldman Sachs downgraded the stock to sell and cut the target price from Rs 437 to Rs 355.

Jet Airways lost over 14 percent to hit a record low of Rs 107.15 per share in intra-day deals on reports that Hinduja Group and Etihad Airways may not proceed with plans to revive the troubled carrier. The stock ended over 12 percent lower.

In Asia, MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.9 percent, with Shanghai’s bourse climbing 2 percent after China tweaked policy on major investment projects in an attempt to support its slowing economy. Bourses in Australia, South Korea and Japan also gained.

First Published:Jun 11, 2019 3:40 PM IST