Indian shares opened higher on Wednesday after U.S. President Trump announced on Twitter that the phase one trade deal with China will be signed during a White House ceremony on January 15th, and that he would later travel to Beijing to begin negotiations on the next phase.
The upside, however, remained limited after the release of weak fiscal deficit and core sector output data.
While India’s fiscal deficit rose to 114.8 percent of the target in the first eight months of the fiscal year, output of India’s eight infrastructure sectors shrank for the fourth straight month in November, separate reports showed.
The benchmark S&P/BSE Sensex rose 160 points, or 0.39 percent, to 41,413, while the broader NSE Nifty index was up 49 points, or 0.4 percent, at 12,217.
Reliance Industries, IndusInd Bank, Bharti Airtel, Larsen & Toubro and Infratel climbed 1-2 percent, while NTPC, Eicher Motors and Coal India were among the prominent decliners.
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