November 26, 2019 / 4:15 AM / 4 months ago

Indian shares scale fresh peak, trade deal hopes stir global risk sentiment

* NSE index up 0.41%, BSE index 0.48% higher

* Both indexes touch record highs

* Metals index up 0.7%, state-owned banks index rises 0.75%

BENGALURU, Nov 26 (Reuters) - Indian shares tracked broader Asian peers higher on Tuesday, with NSE and BSE indexes touching record highs, as investors cheered signs of fresh progress in the trade negotiations between the United States and China.

The NSE Nifty 50 index rose 0.41% to 12,121.45, while the S&P BSE Sensex climbed 0.48% to 41,085.12.

Chinese Vice Premier Liu He held talks over the phone with U.S. Trade representative Robert Lighthizer and U.S. Treasury Secretary Steven Mnuchin on issues related to a phase one trade agreement, China’s commerce ministry said.

The news sent MSCI’s broadest index of Asia-Pacific shares outside Japan up 0.5% to a one-week high.

In the domestic market, state-owned banks rose the most. The Nifty PSU sub-index, which has fallen over 10% so far this year, was up 0.75%.

The Nifty metals index rose for a second consecutive day and posted gains of 0.7%.

Hindalco and Tata Steel were among the top gainers on the Nifty, rising 1.9% and 1.7%, respectively.

Bharti Infratel was the top loser and fell 4.9%. (Reporting by Derek Francis in Bengaluru; editing by Uttaresh.V)

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