June 18, 2019 / 5:29 AM / 3 months ago

Sensex, Nifty end higher ahead of U.S. Fed meet; IT stocks gain

A man walks past the Bombay Stock Exchange (BSE) building in Mumbai, May 20, 2019. REUTERS/Francis Mascarenhas

BENGALURU (Reuters) - Indian shares ended higher on Tuesday, led by gains in IT and oil marketing companies, ahead of the U.S. Federal Reserve’s two-day meeting that begins later in the day.

The broader Nifty ended 0.17% higher at 11,691.50, while the benchmark Sensex closed up 0.22% at 39,046.34.

The Fed is expected to leave interest rates unchanged after its policy meeting, even as President Donald Trump pressed fresh demands for a rate cut.

IT services giant Infosys shares closed up over 1%, boosting the Nifty IT index up 0.6%.

Oil marketing companies Bharat Petroleum Corp and Indian Oil Corp were also among blue-chip gainers for the day, ending between 1.5% and 2% higher.

Debt-ridden airline Jet Airways crashed to fresh life lows before ending 40.8% down, as the company said two of its last remaining directors quit.

Yes Bank shares ended nearly 6% down at an over four-and-half-year low, at 109.3 rupees.

Reporting by Derek Francis in Bengaluru; editing by Gopakumar Warrier

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