Indian shares rose on Thursday, in line with Asian markets, as investors cheered Beijing's monetary policy easing decision and upbeat cues on the Sino-U.S. trade deal . The Nifty rose 0.3% to 12,219.25 by 0940 IST on the second trading day of the year, while the Sensex climbed 0.32% to 41,433.09. China's central bank on Wednesday cut the amount of cash that all banks must hold as reserves, releasing around 800 billion yuan ($114.91 billion) in funds to shore up the slowing economy. Aiding sentiment further was U.S. President Donald Trump's announcement on Tuesday that the signing of Phase 1 trade deal with China will take place on January 15. Among sub-indexes, the Nifty Metal index added over a percent, with shares of Steel Authority of India advancing over 3.5%.

Source: The Hindu January 02, 2020 05:03 UTC