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The domestic stock markets Sensex and Nifty closed higher on Friday buoyed by a strong rally in IT and financial stocks. The Sensex closed 196.62 points up at 35,457.16, while the broader Nifty 50 closed at 10,682.20. Shares of Bharti Airtel gained more than 10% to hit the day’s high of Rs 332.10 on reports that  tower company Bharti Infratel could emerge as a potential buyer for the fibre assets of Vodafone Idea.

Shares of RIL gained more than 3% to Rs 1,129.95, to pip IT behemoth TCS and emerge as India’s most valued company.  Asian share markets fared better as hopes for a thaw in Sino-U.S. trade relations gave Wall Street a fillip, though there were duelling reports on the prospects for an actual agreement.

MSCI’s broadest index of Asia-Pacific shares outside Japan was ahead 0.26 percent in early trade, while Japan’s Nikkei added 0.2 percent, Reuters reported.  U.S. stocks rose on Thursday on optimism the United States and China could resolve their trade dispute, after a news report said Washington would pause further tariffs on Chinese imports.