India stocks lower at close of trade; Nifty 50 down 2.04%

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At the close in NSE, the Nifty 50 fell 2.04%, while the BSE Sensex 30 index fell 2.25%.

The best performers of the session on the Nifty 50 were JSW Steel Ltd (NS:JSTL), which rose 2.87% or 11.35 points to trade at 407.00 at the close. Meanwhile, Adani Port and Special Economic Zone Ltd (NS:APSE) added 2.83% or 18.50 points to end at 672.00 and Hindalco Industries Ltd. (NS:HALC) was up 2.14% or 6.60 points to 314.60 in late trade.

The worst performers of the session were Eicher Motors Ltd. (NS:EICH), which fell 5.18% or 133.90 points to trade at 2450.75 at the close. Tech Mahindra Ltd (NS:TEML) declined 4.68% or 46.55 points to end at 947.40 and Mahindra & Mahindra Ltd. (NS:MAHM) was down 4.67% or 41.05 points to 838.20.

The top performers on the BSE Sensex 30 were Oil And Natural Gas Corporation Ltd (BO:ONGC) which rose 1.14% to 106.30, Kotak Mahindra Bank Ltd. (BO:KTKM) which was up 0.23% to settle at 1941.75 and HDFC Bank Ltd (BO:HDBK) which gained 0.19% to close at 1541.80.

The worst performers were Tech Mahindra Ltd (BO:TEML) which was down 4.85% to 946.00 in late trade, Mahindra & Mahindra Ltd. (BO:MAHM) which lost 4.28% to settle at 838.90 and Dr. Reddy’s Laboratories Ltd (BO:REDY) which was down 4.21% to 4487.85 at the close.

Falling stocks outnumbered advancing ones on the India National Stock Exchange by 1216 to 465 and 41 ended unchanged; on the Bombay Stock Exchange, 1899 fell and 1011 advanced, while 147 ended unchanged.

Shares in Adani Port and Special Economic Zone Ltd (NS:APSE) rose to all time highs; gaining 2.83% or 18.50 to 672.00. Shares in Hindalco Industries Ltd. (NS:HALC) rose to all time highs; up 2.14% or 6.60 to 314.60.

The India VIX, which measures the implied volatility of Nifty 50 options, was up 14.47% to 25.4700 a new 6-months high.

Gold Futures for April delivery was up 1.04% or 18.45 to $1795.85 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in April rose 0.69% or 0.41 to hit $59.67 a barrel, while the May Brent oil contract rose 0.76% or 0.47 to trade at $62.61 a barrel.

USD/INR was down 0.12% to 72.461, while EUR/INR rose 0.01% to 87.9165.

The US Dollar Index Futures was down 0.07% at 90.297.