July 1, 2019 / 10:27 AM / 4 months ago

India shares settle higher on trade reprieve; financials boost

* NSE 0.65% up, BSE ends 0.74% higher

* Housing Development Finance hits record closing high

BENGALURU, July 1 (Reuters) - Indian shares closed higher on Monday, in line with broader Asian peers after Washington and Beijing agreed to restart trade talks, boosting risk appetite.

While reports of an agreement had been flagged ahead of U.S. President Donald Trump and his Chinese counterparty Xi Jinping’s meeting on the sidelines of the G20 meeting, the outcome was more positive than investors had expected. Trump said he would hold back on new tariffs and that China will buy more farm products.

The broader NSE index closed 0.65% higher at 11,865.60, while the benchmark BSE index settled 0.74% firmer at 39,686.50.

Indiabulls Housing Finance settled 2.3% higher, while Housing Development Finance Corp Ltd clocked its record closing high.

For midday report, see (Reporting by Chandini Monnappa in Bengaluru, Editing by Sherry Jacob-Phillips)

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