Indian shares held steady on Thursday after six sessions of losses, on hopes that US President’s plan to introduce hefty tariffs on steel and aluminium imports could exclude certain key partner countries.
Asian shares outside Japan rose after White House signalled that the proposed hefty US tariffs on the steel and aluminium imports could exclude Canada, Mexico and a clutch of other countries.
The broader NSE index rose 0.12 per cent at 10,166.50 as of 0518 GMT, while the benchmark BSE index advanced 0.15 per cent to 33,082.95, reports Reuters.
Financial shares were among the biggest gainers, with ICICI Bank Ltd rising 1.4 per cent, while Housing Development Finance Corp Ltd rose 1.5 per cent.
Information and technology stocks also advanced, with the NSE IT index rising 0.6 per cent. Infosys Ltd was 1.0 per cent higher.
Telecom stocks such as Bharti Airtel Ltd and Idea Cellular Ltd rose on the Indian government’s move to raise the cap on airwaves that a mobile operator can hold to 35 per cent from 25 per cent earlier.
Bharti Airtel was 1.6 per cent higher, while Idea Cellular edged up 0.06 per cent.
The NSE Metal index slipped 1.1 per cent after rising as much as 1.6 per cent in early trade. Hindalco Industries Ltd dropped 1.9 per cent.