India stocks higher at close of trade; Nifty 50 up 1.47%

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At the close in NSE, the Nifty 50 added 1.47% to hit a new 3-months high, while the BSE Sensex 30 index climbed 1.29%.

The best performers of the session on the Nifty 50 were Mahindra & Mahindra Ltd. (NS:MAHM), which rose 7.39% or 39.20 points to trade at 569.70 at the close. Meanwhile, Bajaj Finance Ltd (NS:BJFN) added 6.46% or 189.50 points to end at 3121.00 and Hindalco Industries Ltd. (NS:HALC) was up 5.67% or 8.30 points to 154.70 in late trade.

The worst performers of the session were ITC Ltd (NS:ITC), which fell 3.42% or 7.10 points to trade at 200.45 at the close. Bajaj Auto Ltd (NS:BAJA) declined 1.07% or 31.40 points to end at 2901.00 and GAIL Ltd (NS:GAIL) was down 1.00% or 1.05 points to 103.85.

The top performers on the BSE Sensex 30 were Mahindra & Mahindra Ltd. (BO:MAHM) which rose 7.58% to 570.50, Bajaj Finance Ltd (BO:BJFN) which was up 6.04% to settle at 3109.05 and Reliance Industries Ltd (BO:RELI) which gained 3.57% to close at 1851.40.

The worst performers were ITC Ltd (BO:ITC) which was down 3.35% to 200.40 in late trade, Bajaj Auto Ltd (BO:BAJA) which lost 1.07% to settle at 2903.00 and Housing Development Finance Corporation Ltd (BO:HDFC) which was down 0.84% to 1870.00 at the close.

Rising stocks outnumbered declining ones on the India National Stock Exchange by 991 to 658 and 57 ended unchanged; on the Bombay Stock Exchange, 1530 rose and 1092 declined, while 170 ended unchanged.

Shares in Reliance Industries Ltd (BO:RELI) rose to all time highs; up 3.57% or 63.90 to 1851.40.

The India VIX, which measures the implied volatility of Nifty 50 options, was down 2.21% to 25.1975 a new 3-months low.

Gold Futures for August delivery was down 0.28% or 5.05 to $1784.95 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August fell 0.12% or 0.05 to hit $40.60 a barrel, while the September Brent oil contract rose 1.00% or 0.43 to trade at $43.23 a barrel.

USD/INR was down 0.03% to 74.609, while EUR/INR rose 0.43% to 84.2525.

The US Dollar Index Futures was down 0.42% at 96.888.