India stocks higher at close of trade; Nifty 50 up 1.27%

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At the close in NSE, the Nifty 50 gained 1.27% to hit a new 3-months high, while the BSE Sensex 30 index climbed 1.37%.

The best performers of the session on the Nifty 50 were Power Grid Corporation of India Ltd (NS:PGRD), which rose 6.42% or 10.50 points to trade at 174.00 at the close. Meanwhile, Indian Oil Corporation Ltd (NS:IOC) added 5.66% or 5.00 points to end at 93.30 and Bharat Petroleum Corp. Ltd. (NS:BPCL) was up 5.43% or 23.75 points to 461.05 in late trade.

The worst performers of the session were Bajaj Finance Ltd (NS:BJFN), which fell 4.00% or 137.50 points to trade at 3304.00 at the close. Bajaj Finserv Ltd (NS:BJFS) declined 3.52% or 233.10 points to end at 6387.05 and Britannia Industries Ltd (NS:BRIT) was down 2.38% or 94.65 points to 3888.00.

The top performers on the BSE Sensex 30 were Power Grid Corporation of India Ltd (BO:PGRD) which rose 6.14% to 173.60, Maruti Suzuki India Ltd. (BO:MRTI) which was up 4.53% to settle at 6132.90 and ICICI Bank Ltd (BO:ICBK) which gained 4.41% to close at 378.85.

The worst performers were Bajaj Finance Ltd (BO:BJFN) which was down 3.96% to 3305.00 in late trade, Bajaj Finserv Ltd (BO:BJFS) which lost 3.45% to settle at 6390.00 and Asian Paints Ltd. (BO:ASPN) which was down 1.85% to 1719.50 at the close.

Rising stocks outnumbered declining ones on the India National Stock Exchange by 861 to 744 and 73 ended unchanged; on the Bombay Stock Exchange, 1352 rose and 1174 declined, while 144 ended unchanged.

The India VIX, which measures the implied volatility of Nifty 50 options, was down 1.15% to 24.4275.

Gold Futures for August delivery was up 0.52% or 9.50 to $1826.90 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September rose 2.74% or 1.12 to hit $42.04 a barrel, while the September Brent oil contract rose 2.75% or 1.19 to trade at $44.47 a barrel.

USD/INR was down 0.14% to 74.632, while EUR/INR fell 0.08% to 85.4650.

The US Dollar Index Futures was down 0.15% at 95.632.