India stocks lower at close of trade; Nifty 50 down 1.60%

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At the close in NSE, the Nifty 50 fell 1.60%, while the BSE Sensex 30 index declined 1.63%.

The best performers of the session on the Nifty 50 were GAIL Ltd (NS:GAIL), which rose 3.68% or 3.55 points to trade at 99.90 at the close. Meanwhile, Wipro Ltd (NS:WIPR) added 2.60% or 5.40 points to end at 213.30 and HCL Technologies Ltd (NS:HCLT) was up 1.49% or 8.50 points to 579.25 in late trade.

The worst performers of the session were IndusInd Bank Ltd. (NS:INBK), which fell 7.20% or 38.05 points to trade at 490.40 at the close. AXIS Bank Ltd (NS:AXBK) declined 4.49% or 18.30 points to end at 389.70 and Tata Motors Ltd (NS:TAMO) was down 4.42% or 4.65 points to 100.65.

The top performers on the BSE Sensex 30 were Reliance Industries Ltd (BO:RELI) which rose 1.65% to 1615.00, HCL Technologies Ltd (BO:HCLT) which was up 1.28% to settle at 579.00 and Sun Pharmaceutical Industries Ltd. (BO:SUN) which gained 0.93% to close at 484.25.

The worst performers were IndusInd Bank Ltd. (BO:INBK) which was down 7.27% to 489.65 in late trade, AXIS Bank Ltd. (BO:AXBK) which lost 4.44% to settle at 389.80 and ICICI Bank Ltd (BO:ICBK) which was down 3.88% to 330.90 at the close.

Falling stocks outnumbered advancing ones on the India National Stock Exchange by 829 to 793 and 62 ended unchanged; on the Bombay Stock Exchange, 1263 rose and 1163 declined, while 161 ended unchanged.

Shares in Reliance Industries Ltd (BO:RELI) rose to all time highs; gaining 1.65% or 26.20 to 1615.00.

The India VIX, which measures the implied volatility of Nifty 50 options, was up 5.69% to 32.5775.

Gold Futures for August delivery was down 1.33% or 23.15 to $1714.15 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in July fell 1.77% or 0.64 to hit $35.62 a barrel, while the August Brent oil contract fell 0.88% or 0.34 to trade at $38.39 a barrel.

USD/INR was up 0.09% to 76.100, while EUR/INR rose 0.09% to 85.6055.

The US Dollar Index Futures was down 0.17% at 97.162.