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​India: market closes higher

On Monday, August 8, Indian stocks closed in the green amid high oil prices, as well as on the back of Friday's US jobs report which turned out to be better than expected.

The Nifty 50 rose 0.32% to 8,711.35, while the BSE Sensex 30 added 0.37% to 28,182.57.

Mundra Port Special (+2.84%) and Tata Power (+2.32%) were among the outperformers.

Bharti Airtel (-3.42%), Idea Cellular (-2.92%), and Bharti Infratel Ltd. (-1.99%) topped the decliners.

Housing Development Finance reached a weekly high.

Supplier of aluminum sheet to the automotive industry Hindalco Industries chalked up the biggest daily percentage gain since May.

Oil refineries Bharat Petroleum and Hindustan Petroleum set all-time highs.

In the currency market, the USD/INR pair fell 0.04% to 66.813, while EUR/INR traded down 0.07% to 74.0850.

Meanwhile, the India VIX, a volatility index based on the Nifty 50 index option prices, advanced 1.64% to 14.5875.

From a technical standpoint, the BSE Sensex 30 Index continues to trade within a rising band on the daily chart and it holds upside potential as there are no signs of overbuying.