India stocks higher at close of trade; Nifty 50 up 1.57%

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At the close in NSE, the Nifty 50 gained 1.57% to hit a new 1-month high, while the BSE Sensex 30 index climbed 1.60%.

The best performers of the session on the Nifty 50 were Coal India Ltd (NS:COAL), which rose 6.33% or 9.25 points to trade at 155.30 at the close. Meanwhile, Eicher Motors Ltd. (NS:EICH) added 4.90% or 126.90 points to end at 2718.80 and Bajaj Finance Ltd (NS:BJFN) was up 3.47% or 242.30 points to 7219.60 in late trade.

The worst performers of the session were Cipla Ltd. (NS:CIPL), which fell 1.44% or 13.60 points to trade at 930.50 at the close. Dr. Reddy’s Laboratories Ltd (NS:REDY) declined 1.10% or 53.85 points to end at 4853.15 and Mahindra & Mahindra Ltd. (NS:MAHM) was down 0.88% or 7.35 points to 829.80.

The top performers on the BSE Sensex 30 were Bajaj Finance Ltd (BO:BJFN) which rose 3.52% to 7222.30, Bajaj Finserv Ltd (BO:BJFS) which was up 3.49% to settle at 16963.00 and ICICI Bank Ltd (BO:ICBK) which gained 3.31% to close at 764.75.

The worst performers were Dr. Reddy’s Laboratories Ltd (BO:REDY) which was down 1.13% to 4853.20 in late trade, Mahindra & Mahindra Ltd. (BO:MAHM) which lost 0.91% to settle at 829.70 and Tech Mahindra Ltd (BO:TEML) which was down 0.30% to 1785.10 at the close.

Rising stocks outnumbered declining ones on the India National Stock Exchange by 1385 to 452 and 34 ended unchanged; on the Bombay Stock Exchange, 2592 rose and 856 declined, while 133 ended unchanged.

The India VIX, which measures the implied volatility of Nifty 50 options, was up 1.42% to 16.4525.

Gold Futures for February delivery was down 0.13% or 2.40 to $1826.20 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in February rose 1.42% or 1.07 to hit $76.28 a barrel, while the March Brent oil contract rose 1.57% or 1.22 to trade at $79.00 a barrel.

USD/INR was down 0.19% to 74.326, while EUR/INR fell 0.33% to 84.3745.

The US Dollar Index Futures was up 0.23% at 95.815.