April 26, 2019 / 6:37 AM / 5 months ago

Nifty, Sensex climb in late trade on banking, metals boost

Gardeners work outside the National Stock Exchange (NSE) building in Mumbai, India, August 16, 2018. REUTERS/Francis Mascarenhas/File Photo

(Reuters) - Indian shares surged in late trade on Friday on the back of gains in private banks and metal stocks, with ICICI Bank Ltd climbing to a record closing high.

The broader NSE Nifty ended 0.97 percent higher at 11,754.65, while the benchmark BSE Sensex closed up 0.87 percent at 39,067.33. Both indexes ended nearly flat for the week.

ICICI Bank jumped 3 percent and was the top boost to the indexes, while Axis Bank Ltd rose 2.6 percent after reporting solid results for the fourth quarter.

Tata Steel Ltd, up 6.8 percent, saw its best day in nearly two years after the steelmaker beat expectations for quarterly profit. The stock was the top gainer on the indexes and drove the Nifty Metal Index 1.9 percent higher.

IT bellwethers Tata Consultancy Services Ltd and Infosys Ltd climbed 1.3 percent and 2 percent, respectively.

Reporting by Chris Thomas in Bengaluru; Editing by Rashmi Aich

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