The Sensex rose 161 points to 33,788 while Nifty settled 47 points higher at 10,379. Gains were however capped due to some selling pressure in IT and healthcare stocks.
Jewellery and accessories retailer Titan Co Ltd rose nearly 3 per cent on strong quarterly jewellery sales growth. Among other gainers, oil retailers HPCL and BPCL rose nearly 3 per cent. Financials drove the gains on the NSE index. Axis Bank rose nearly 4 per cent while IndusInd Bank jumped nearly 2 per cent. The index for banking stocks, Nifty Bank, rose over 1 per cent.
Lupin, Tata Motors and Lupin were among the top losers in the Nifty50 pack, down over 1 per cent.
Trump's chief economic adviser, National Economic Council Director Larry Kudlow said in an interview on Sunday the ongoing spat "might turn out to be very benign". In a Twitter post on Sunday Trump appeared to echo this, saying any tariffs would be reciprocal and that he saw a "Great future for both countries!".
(With agency inputs)
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