BENGALURU: Indian shares closed higher on Friday, led by a rally in banks and auto stocks, and notched up gains for the week as investors cheered signs of progress in the trade dispute between the United States and China.
The broader NSE index closed 0.85% up at 11,075.90, while the benchmark BSE index ended 0.76% higher at 37,384.99. For the week, the NSE and BSE indexes posted gains of 1.18% and 1.09%, respectively.
US President Donald Trump said on Thursday he preferred a comprehensive trade deal with China, but did not rule out the possibility of an interim pact, even as he said an "easy" agreement would not be possible.
In the domestic market, the auto index was up 1.05% at close, while the banking index ended 1.01% higher.
Oil marketing companies led gains on the blue-chip index, with Bharat Petroleum Corp closing up 6.34% and Indian Oil Corp ending 4.58% higher, as oil prices slipped to around $60 a barrel on Friday. Indiabulls Housing Finance was the top loser and closed 1.59% lower.