On Friday, the United States concluded its latest round of trade talks with China. US Treasury Secretary Steven Mnuchin and US Trade Representative Robert Lighthizer were in Beijing for high level face-to-face meetings to resolve the ongoing trade disputes between the two biggest economies in the world.

In a tweet, Mnuchin said, "@USTradeRep and I concluded constructive trade talks in Beijing. I look forward to welcoming China's Vice Premier Liu He to continue these important discussions in Washington next week," without disclosing any details.

The next round of talks is scheduled for April in Washington.

Talks between these two countries is a matter of great importance as it is watched by investors all around the world amid concerns of a global economic slowdown. The US bond markets recently showed signs of an approaching recession, spooking markets worldwide.

Equity markets in China surged on Friday over the progress in trade negotiations between the two economic powerhouses. At market closing, the Shanghai Composite jumped 3.2 percent to 3,090.76, while the Shenzhen component surged 3.77 percent to 9,906.86.

Reflecting the positivity Indian equity benchmark Sensex closed 127.19 points higher at 38,672.91, while Nifty 50 was up 53.90 points at 11,623.90 points.