Sensex, Nifty end higher on rally in banks, autos

Reuters
Updated
Brokers trade at their computer terminals at a stock brokerage firm in Mumbai

BENGALURU (Reuters) - The Sensex and the Nifty closed higher on Friday, led by a rally in banks and auto stocks, and notched up gains for the week as investors cheered signs of progress in the trade dispute between the United States and China.

The Nifty closed 0.85% up at 11,075.90, while the Sensex ended 0.76% higher at 37,384.99. For the week, the Nifty and the Sensex posted gains of 1.18% and 1.09%, respectively.

U.S. President Donald Trump said on Thursday he preferred a comprehensive trade deal with China, but did not rule out the possibility of an interim pact, even as he said an "easy" agreement would not be possible.

In the domestic market, the auto index was up 1.05% at close, while the banking index ended 1.01% higher.

Oil marketing companies led gains on the blue-chip index, with Bharat Petroleum Corp closing up 6.34% and Indian Oil Corp ending 4.58% higher, as oil prices slipped to around $60 a barrel on Friday.

Indiabulls Housing Finance was the top loser and closed 1.59% lower.

(Reporting by Derek Francis in Bengaluru; editing by Uttaresh.V)