July 2, 2019 / 10:23 AM / 2 months ago

Indian shares end in the black; financials, IT stocks boost index

* NSE 0.38% up, BSE ends 0.33% higher

* Auto stocks rebound to end firmer

BENGALURU, July 2 (Reuters) - Indian shares closed higher on Tuesday, with financials and IT stocks driving gains on the index as investors awaited further cues from the federal budget due later in the week.

Earlier in the session, markets witnessed thin trade as heavy rains lashed Mumbai, India’s financial capital, for a second straight day, disrupting road, rail and air traffic. The authorities declared a public holiday in the city.

The broader NSE index closed 0.38% higher at 11,910.3, while the benchmark BSE index settled 0.33% firmer at 39,816.48.

Housing Development Finance Corp Ltd closed 1.6% up, while Infosys Ltd ended the session 1.1% higher.

Meanwhile, a day after auto makers posted lacklustre monthly sales figures, the country’s auto index rebounded from early losses to close 0.2% firmer.

Shares of Yes Bank Ltd finished the session 8.3% lower on report that Mumbai-based real estate company Radius Developers defaulted on scheduled interest payments on 12 bln rupees ($174.07 mln) loan to the lender.

For midday report, see

Reporting by Chandini Monnappa in Bengaluru, Editing by Sherry Jacob-Phillips

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