Nifty, Sensex gain 1%, post best week in six on rising risk sentiment

BENGALURU: Shares ended about 1 per cent higher on Friday, as prospects of a trade deal between the United States and China and hopes of a swift Brexit after thumping election win by Britain`s Conservative Party spurred risk appetite. The Nifty ended 0.99 per cent higher at 12,090.35 and the Sensex was up 1.11 per cent at 41,032.64 at the closing bell. The Nifty index had gained 1.43 per cent for the week, its best week since week-ending November 1.

State-owned banks and Nifty metals index and were the top gainers, rising 4.23 per cent and 2.42 per cent, respectively. Axis Bank shares ended 4.2 per cent higher and was the top gainer in Nifty 50 index. Washington has set its terms for a trade deal with China, offering to suspend some tariffs on Chinese goods and cut others in exchange for Beijing`s buying more American farm goods, Reuters reported on Thursday.

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Prime Minister Boris Johnson won a commanding majority in Britain`s Parliament, giving him the power to end three years of political paralysis and take Britain out of the European Union by January 31, 2020.