The mood in the markets was brighter after US officials said China has made proposals in trade talks with the United States on a range of issues that go further than it has before, including on forced technology transfer.
US Treasury Secretary Steven Mnuchin said on Friday he had a “productive working dinner” the previous night in Beijing, kicking off a day of talks aimed at resolving the bitter trade dispute between the world’s two largest economies.
Trade talks with China are progressing "very well", US President Donald Trump said, as top negotiators from the two countries Thursday began meetings to resolve their tariff war. US trade negotiators arrived in Beijing on Thursday and the talks began with a working dinner.The meetings will last the entire day Friday.
"We're doing very well with our trade talks with China, and our trade talks and other talks with other countries. Our country is doing great," Trump said at the White House when asked about the status of the ongoing trade meetings with the China.
Following the optimism of US-China talks, metal counters have shown some handsome gains with Nifty Metal jumping over 2 percent led by gains from Jindal Steel & Power which jumped close to 10 percent after spurt in volume by more than 2.87 times. This was followed by Hindalco Industries, JSW Steel, NALCO, SAIL and Tata Steel.Hindustan Zinc.