Indian shares ended higher for a third straight session on Tuesday, as sentiment was boosted by expectations of additional stimulus supported by a huge dividend from the Reserve Bank of India (RBI) and easing of global trade war worries.

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The Sensex ended 147 points higher at 37,641, while the broader Nifty50 index added 47 points to end the day at 11,105. In broader markets, the Nifty Midcap rose 0.7 percent and Nifty Smallcap index advanced 1.8 percent.

The government is set to receive a much higher-than-expected dividend of Rs 1.76 lakh crore from the RBI, allowing the administration to provide a wobbling economy additional fiscal stimulus.

Markets have also gained on the back of the government’s move to roll back a recently announced tax surcharge on foreign and domestic equity investors, speed up capital infusion to state-run banks and support the beleaguered domestic auto industry.

Tata Motors, Britannia, Tata Steel, YES Bank, and NTPC were the top gainers on the Nifty50, while Indiabulls Housing Finance, Bharti Airtel, Tech Mahindra, Infosys, and Grasim led the losses.

Sectoral indices were mixed for the day. The PSU Bank index rose the most, up 2.5 percent followed by Nifty Metal, which rose 2.1 percent. Meanwhile, Nifty Auto index advanced 1.8 percent and Nifty Realty added 1.1 percent. However, Nifty IT declined 1.3 percent on the rising rupee. Nifty Pharma and Nifty Media indices also fell around 0.2 percent each.

Bharat Heavy Electricals Limited (BHEL) rose over 5 percent on twin effects of HSBC upgrading the stock and the company winning orders worth Rs 2,500 crore.

Meanwhile, global shares eked out gains on Tuesday as some investors held out hopes for a trade deal between the United States and China even as the countries continued to raise tariffs on each other last week.

First Published:Aug 27, 2019 3:55 PM IST