Business

Sensex closes 178 points higher at 38,862, Nifty at 11,666

Agency | April 05, 2019 05:57 PM

Mumbai (Maharashtra) [India]: Equity benchmark indices closed higher on Friday as investors followed positive global cues a day after the Reserve Bank of India (RBI) cut key policy rate by an expected 25 basis points.

The BSE S&P Sensex closed 178 points higher at 38,862 while the NSE Nifty 50 was up 68 points to 11,666.

Among sectoral indices, metals was up nearly 2 per cent, IT 1.1 per cent and realty 1.3 per cent.

Cipla was a prominent gainer which closed at Rs 538.80, up 3.42 per cent. Tata Steel gained 2.2 per cent and JSW Steel 1.8 per cent. Vedanta and Bajaj Finance closed 1.7 per cent each.

Power Grid, Britannia, Zee Entertainment, State Bank of India and Dr Reddy Labs were in the negative zone.

Meanwhile, Asian share markets were mostly in the positive zone after Xinhua quoted Chinese President Xi Jinping saying that progress has been made during trade talks with the United States.

He also called for an early conclusion of negotiations. However, China and Hong Kong were shut for a holiday.

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