"If we feel that the rates are to be taken a little up or down, we will be doing that looking at the market conditions. The GSEC tenure may not remain at one level and it has moved very widely. There are wide swings in GSEC and also the market over the last one year. If we feel that after one year it needs some moderation, it will be moderated and whatever contribution comes from that period will have that guarantee."

The 30-share BSE Sensex closed up 846.94 points at 60747.31

“Opening such investments to retail investors will act as a step towards democratising wealth creation and providing diversification benefits to retail investors. Retail investors usually have access only to traditional securities, primarily listed equities or fixed deposits,” Kundan Shahi, CEO of LegalPay said.

Prozone Intu Proper, Lambodhara Text, 3P Land Holdings, Rama Steel Tubes and Donear Ind, hit their fresh 52-week highs during the day.

Asian currencies jumped after U.S. data - showing service-sector activity unexpectedly contracted in December, while wage growth slowed more than expected - backed expectations that the Fed will opt for a smaller 25 basis points hike at its Feb. 1 meeting.

"Ather Energy will stay in scooters and only withthe 40 product lines this year. I think it's very important for a company to stay extremely focused on products that they understand best, win really really big there and then expand. Stretching too early I think is not generally a healthy idea, not a good business practice."

U.S. yields tumbled on Friday after data showed domestic wages rose less than expected last month and new jobs increased more than expected, while service-sector activity shrank for the first time in more than 30 months.

The sale lowered Berkshire's holdings in BYD's total issued H-shares to 13.97% on Jan. 3 from 14.06%, a filing to the Hong Kong Stock Exchange showed on Monday.