Indian share markets continued their momentum during closing hours of trade and ended the day at their fresh record high levels. Gains were largely seen in the metal sector and energy sector.

Both, the Sensex and Nifty, ended their day at record closing highs. At the closing bell, the BSE Sensex stood higher by 331 points (up 0.9%) and the NSE Nifty closed higher by 81 points (up 0.7%). The BSE Mid Cap index ended the day up by 1.1%, while the BSE Small Cap index ended the day up by 0.1%.

Asian stock markets finished on a mixed note as of the most recent closing prices. The Hang Seng stood up by 1.39% and the Nikkei was trading down by 0.32%. The Shanghai Composite stood higher by 1.09%.

European markets were trading on a positive note. The FTSE 100 was up by 0.42%. The DAX was up by 0.86% while the CAC 40 was up by 0.53%.

The rupee was trading at 69.82 to the US$ at the time of writing.

In the news from global financial markets, China and the US will be holding lower-level trade talks this month. The news comes as a welcome breather in that the two nations might resolve the ongoing trade war.

As per the news, a Chinese delegation led by Vice Minister of Commerce Wang Shouwen will meet US representatives led by Treasury Under Secretary for International Affairs David Malpass.

Note that earlier this month, the Trump administration announced to impose 25% tariffs on imports of 279 items from China amounting to US$ 16 billion. The talks in Washington would take place on August 22 and 23, just as new US tariffs on US$ 16 billion of Chinese goods take effect.

The US Trade Representative said that the move is a part of the US’ response to China’s unfair trade practices related to the forced transfer of American technology and intellectual property.

This is the second tranche of such tariffs and is set to come into effect on August 23.

US had already imposed tariffs on US$ 34 billion worth of goods on July 6 but held off on a final US$ 16 billion in goods as a result of concerns from US companies.