Indian shares end in the black; Zee Entertainment top boost

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* NSE index ends up 0.36%, BSE index closes 0.42% higher

* Zee Entertainment ends 3.24% firmer

* Indiabulls Housing Finance ends 8% down

BENGALURU, June 11 (Reuters) – Indian shares closed higher on Tuesday as risk appetite remained firm after the United States shelved plans to impose tariffs on Mexico, while hopes of a rate cut by the Federal Reserve raised optimism among global investors.

The broader NSE index ended up 0.36% at 11,965.60, while the benchmark BSE index closed 0.42% higher at 39,950.46.

The Nifty public sector bank index – the biggest gainer – closed 1.69% firmer, while the metals index ended 1.32% higher.

Zee Entertainment topped the list of NSE gainers, ending 3.24% higher, and boosted the Nifty Media index.

Yes Bank pared early losses to end 2.7% higher after Moody’s placed the private-sector lender under review for downgrade.

Tata Motors and Indusind Bank were also top gainers among the NSE blue-chips, ending 2.74% and 2.51% higher respectively.

Indiabulls Housing Finance was the top loser for the day, ending 8% in the red, after it was dragged into an embezzlement lawsuit, which the company described as “bizarre.”

For the mid-day report, click: (Reporting by Derek Francis in Bengaluru, Editing by Sherry Jacob-Phillips)

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