Share markets in India closed the Thursday session on a positive note on the back of strong recovery in PSU banks. Hopes of positive quarterly earnings and -free roll-out of the goods and services tax (GST) also lifted sentiment.

The Nifty ended above 9650-mark after clocking 9700 during the day’s trade. The Sensex closed up 124 points.

State Bank of India, ITC, and Bharti Infratel gained the most, while Baja Auto, Mahindra and Mahindra and Hindalcolost the most.

Global Markets Adrift Amid Uncertainty

Asian stocks fell broadly on Thursday as minutes from the Federal Reserve’s last meeting showed a lack of consensus among members over when to start reducing the Fed’s securities portfolio.

Meanwhile, the 30-year Japanese government bond (JGB) yield rose to 0.893%, its highest level since February 23, with Reuters attributing the move to increased expectations that the European Central Bank (ECB), the Fed and other central banks will be tightening policy.

That would make those country’s bond yields more attractive to investors than the lower-yielding JGBs. Bond yields move inversely to prices. Oil prices rose after slumping about 4%.

In another development, as per the Bank of France governor Mr. Villeroy de Galhau, France would face a “sovereign debt shock” by not regaining control over its public debt before interest rates increase sharply.

He urged the French president to comply with the European Union’s deficit ceiling of 3% of economic output, deferring tax cuts if necessary. If France can’t repair its finances it will face a competitiveness shock with higher overheads than its European peers.

Sino-India Border Dispute…

As per an article in The Economic Times, China-India trade cooperation has deepened over the years and the bilateral trade has grown 24 times in 15 years. China has emerged as one of the fastest-growing sources of Foreign Direct Investment (FDI) into India.