India stocks higher at close of trade; Nifty 50 up 1.08%

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At the close in NSE, the Nifty 50 added 1.08%, while the BSE Sensex 30 index added 1.09%.

The best performers of the session on the Nifty 50 were IndusInd Bank Ltd. (NS:INBK), which rose 5.74% or 50.65 points to trade at 933.65 at the close. Meanwhile, JSW Steel Ltd (NS:JSTL) added 4.73% or 28.80 points to end at 637.20 and AXIS Bank Ltd (NS:AXBK) was up 3.65% or 23.95 points to 679.60 in late trade.

The worst performers of the session were Cipla Ltd. (NS:CIPL), which fell 4.44% or 43.15 points to trade at 928.15 at the close. Divi’s Laboratories Ltd. (NS:DIVI) declined 2.59% or 126.60 points to end at 4752.20 and UltraTech Cement Ltd (NS:ULTC) was down 1.53% or 113.75 points to 7320.00.

The top performers on the BSE Sensex 30 were IndusInd Bank Ltd. (BO:INBK) which rose 5.73% to 934.25, AXIS Bank Ltd. (BO:AXBK) which was up 3.46% to settle at 679.80 and State Bank Of India (BO:SBI) which gained 3.19% to close at 475.30.

The worst performers were Dr. Reddy’s Laboratories Ltd (BO:REDY) which was down 1.58% to 4607.25 in late trade, UltraTech Cement Ltd (BO:ULTC) which lost 1.48% to settle at 7324.60 and Sun Pharmaceutical Industries Ltd. (BO:SUN) which was down 1.14% to 745.35 at the close.

Rising stocks outnumbered declining ones on the India National Stock Exchange by 1060 to 707 and 47 ended unchanged; on the Bombay Stock Exchange, 1844 rose and 1312 declined, while 129 ended unchanged.

The India VIX, which measures the implied volatility of Nifty 50 options, was down 8.13% to 19.4475.

Gold Futures for February delivery was up 0.55% or 9.80 to $1786.30 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in January rose 4.74% or 3.14 to hit $69.32 a barrel, while the February Brent oil contract rose 5.06% or 3.50 to trade at $72.73 a barrel.

USD/INR was down 0.22% to 74.927, while EUR/INR fell 0.32% to 84.8480.

The US Dollar Index Futures was down 0.01% at 96.000.