Among others, PC Jeweller jumped 14.93 percent and Titan Company rallied 8 percent.

Easing restrictions on gold imports, the Reserve Bank had on Friday scrapped the controversial 80:20 scheme, a move which the industry believes will bring down prices of the precious metal.

Under the 80:20 norm, put in place in August 2013 to curb high gold inflows that was widening the current account deficit, at least 20 percent of the imported gold had to be mandatorily exported before bringing in new lots.

"It has been decided by the Government of India to withdraw the 20:80 scheme and restrictions placed on import of gold. Accordingly, all instructions issued about the scheme from time to time...stand withdrawn with immediate effect," the RBI had said in a notification on Friday.

Gold imports jumped 280 per cent to USD 4.17 billion in October, as per the latest trade data. The in-bound shipments touched 95 tonnes in September this year as against 12 tonnes a year ago.

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