India's benchmark indices posted solid gains on Wednesday, tracking positive cues from Asian markets after the US announced a surprise trade deal with Japan.
US President Trump, on Tuesday, announced a trade deal with Japan, under which Japan will pay a 15% tariff on imports into the US. The move lifted investor sentiment, fueling hopes of similar pacts with other key trade partners.
The BSE Sensex climbed 539.83 points, or 0.7%, to close at 82,726.64, while the NSE Nifty 50 advanced 159.00 points, or 0.6%, to end at 25,219.90.
Tata Motors (NSE:TATAMOTORS, BOM:500570) led the gainers with a 2.5% rise, supported by buying in Shriram Finance (NSE:SHRIRAMFIN, BOM:511218) and Bharti Airtel (NSE:BHARTIARTL, BOM:532454).
On the other hand, Tata Consumer Products (NSE:TATACONSUM, BOM:543374), Hindustan Unilever (NSE:HINDUNILVR, BOM:500696), and Bharat Electronics (NSE:BEL, BOM:500049) were the top drags on the indices.
In corporate developments, Minda (NSE:MINDACORP, BOM:538962) announced a partnership with Qualcomm Technologies to develop next-generation smart cockpit solutions for the Indian automotive market.
PNB Housing Finance (NSE:PNBHOUSING, BOM:540173) secured board approval to allot 4 billion Indian rupees worth of non-convertible debentures on a private placement basis.
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