India stocks higher at close of trade; Nifty 50 up 6.62%

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At the close in NSE, the Nifty 50 rose 6.62%, while the BSE Sensex 30 index climbed 6.98%.

The best performers of the session on the Nifty 50 were Reliance Industries Ltd (NS:RELI), which rose 13.84% or 130.60 points to trade at 1074.00 at the close. Meanwhile, HDFC Bank Ltd (NS:HDBK) added 12.41% or 95.30 points to end at 863.00 and Kotak Mahindra Bank Ltd. (NS:KTKM) was up 11.89% or 137.10 points to 1290.00 in late trade.

The worst performers of the session were Yes Bank Ltd (NS:YESB), which fell 15.86% or 5.55 points to trade at 29.45 at the close. IndusInd Bank Ltd. (NS:INBK) declined 3.33% or 10.40 points to end at 301.95 and Indian Oil Corporation Ltd (NS:IOC) was down 3.07% or 2.45 points to 77.25.

The top performers on the BSE Sensex 30 were Reliance Industries Ltd (BO:RELI) which rose 14.65% to 1081.25, Kotak Mahindra Bank Ltd. (BO:KTKM) which was up 12.65% to settle at 1294.00 and Maruti Suzuki India Ltd. (BO:MRTI) which gained 12.23% to close at 5034.20.

The worst performers were IndusInd Bank Ltd. (BO:INBK) which was down 3.57% to 301.20 in late trade, Oil And Natural Gas Corporation Ltd (BO:ONGC) which lost 1.60% to settle at 61.50 and ITC Ltd (BO:ITC) which was down 1.41% to 147.35 at the close.

Rising stocks outnumbered declining ones on the India National Stock Exchange by 922 to 579 and 90 ended unchanged; on the Bombay Stock Exchange, 1163 rose and 939 declined, while 145 ended unchanged.

Shares in IndusInd Bank Ltd. (NS:INBK) fell to 5-year lows; down 3.33% or 10.40 to 301.95. Shares in Indian Oil Corporation Ltd (NS:IOC) fell to 5-year lows; down 3.07% or 2.45 to 77.25. Shares in IndusInd Bank Ltd. (BO:INBK) fell to 5-year lows; falling 3.57% or 11.15 to 301.20.

The India VIX, which measures the implied volatility of Nifty 50 options, was down 7.16% to 77.6250.

Gold Futures for April delivery was down 0.24% or 4.05 to $1656.75 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in May fell 1.46% or 0.35 to hit $23.66 a barrel, while the May Brent oil contract fell 2.84% or 0.77 to trade at $26.38 a barrel.

USD/INR was up 0.01% to 76.379, while EUR/INR rose 0.33% to 82.6530.

The US Dollar Index Futures was down 0.75% at 101.485.