Indian shares closed higher on Friday as investors cheered the government’s assurance for the ailing domestic auto sector, amid easing U.S.-China trade tensions.
The broader NSE Nifty ended 0.91% higher at 10,946.20, while the benchmark BSE Sensex closed up 0.92% at 36,981.77.
However, weak economic data left both indexes in the red for the week, with the NSE Nifty and BSE Sensex finishing down 0.75% and 0.94%, respectively.
Autos led gains on Friday for the second straight session, and the index closed up 2.61%.
India’s junior finance minister Anurag Thakur said the government was open to taking car-makers’ requests for lower taxes to the tax council, a day after industry bosses urged New Delhi to revive the sector plagued by plunging sales and job losses.
Eicher Motors was the top gainer on the NSE Nifty, ending 4.15% higher, while Indiabulls Housing Finance, down 4.97%, was the top loser.