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

India equities were higher at the close on Wednesday, as gains in the Metals, Banking and Auto sectors propelled shares higher.

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

The biggest gainers 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. 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.

Biggest losers included Cipla Ltd. (NS:CIPL), which lost 4.44% or 43.15 points to trade at 928.15 in late trade. Divi’s Laboratories Ltd. (NS:DIVI) declined 2.59% or 126.60 points to end at 4752.20 and UltraTech Cement Ltd (NS:ULTC) shed 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.

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

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

In commodities trading, Gold Futures for February delivery was up 0.55% or 9.80 to $1786.30 a troy ounce. Meanwhile, 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.

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