Nifty, Sensex track broader Asia higher as Trump's comments renew trade hopes

Indian shares rose on Friday, in line with gains in broader Asia, as investors cheered US President Donald Trump's latest comments saying trade talks with China were moving on track.

The NSE Nifty 50 index rose 0.22% at 12,044.25 and the S&P BSE Sensex was up 0.28% at 40,893.17 by 0349 GMT.

MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.5% after Trump's upbeat tone in comments on Thursday, despite a lack of agreement between Washington and Beijing over whether existing tariffs should be dropped as part of a preliminary trade deal.

In the domestic market, shares bounced back, a day after the Reserve Bank of India kept rates steady, which led to markets ending lower on Thursday.

State-owned banking stocks led gains on Friday, as their main sub-index rose 0.52% in early trading, followed by the metals index, which gained 0.47%.

Bharti Infratel Ltd rose 1.3.% and topped the list among stock gainers, while Yes Bank Ltd fell 4.27% and was the day`s biggest laggard.