(Riya Singh, Intern Journalist): Shares closed higher on Tuesday, led by gains in heavyweights Reliance Industries Ltd and HDFC Bank Ltd, while strong US manufacturing data further aided investor sentiment. The NSE Nifty 50 index ended 1.87% higher at 11,095.25, while the S&P BSE Sensex closed up 2.03% at 37,687.91.
Shares of private sector lender HDFC Bank closed nearly 4% higher after the RBI approved Sashidhar Jagdishan’s appointment as the new chief of the country’s most valuable bank. Data showing U.S. manufacturing activity accelerated to its highest level in nearly one and a half years in July, further boosted sentiment and lifted Asian shares. MSCI’s broadest index of Asia-Pacific shares outside Japan advanced 0.9%.
In Mumbai trading, shares of India’s most valuable company Reliance Industries were the biggest boost, finishing 7.4% higher.
The Nifty financials index closed up 2.28% and the Nifty private bank’s index settled 2.02% higher. India’s small-cap and mid-cap shares rose over 1% each. Domestic investors also await a policy rate decision due on Thursday.
Among losers, the Nifty IT index fell 0.88% after reports said U.S. President Donald Trump on Monday signed an executive order preventing federal agencies from contracting or subcontracting foreign workers, mainly those on an H-1B visa.
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