October 29, 2019 / 4:50 AM / 22 days ago

Sensex, Nifty jump nearly 1.5%; Tata Motors, metals stocks shine

The Bombay Stock Exchange (BSE) building is pictured next to a police van in Mumbai, India, August 24, 2015. REUTERS/Danish Siddiqui/File Photo

BENGALURU (Reuters) - Indian shares rose nearly 1.5% on Tuesday, tracking gains in broader Asia on hopes of progress in U.S.-China trade talks, with Tata Motors and metals stocks leading the rally.

The broader Nifty jumped 1.37% to 11,786.85, while the benchmark BSE Sensex closed 1.48% higher at 39,831.84.

Tata Motors Ltd surged nearly 19% after the company posted a narrower loss on Friday. Earlier on Tuesday, the automaker sought shareholders’ nod to issue shares worth 30.24 billion rupees ($426.76 million) to Tata Sons.

Metals stocks rose sharply, with the Nifty Metal index adding as much as 4.4%. Both Tata Steel Ltd and JSW Steel Ltd gained nearly 7%.

Telecom operators Bharti Airtel Ltd and Vodafone Idea Ltd were among the losers, settling 3.5% and 8.3% lower, respectively.

($1 = 70.8600 Indian rupees)

Reporting by Chandini Monnappa in Bengaluru; Editing by Subhranshu Sahu

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