India stocks lower at close of trade; Nifty 50 down 1.61%

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At the close in NSE, the Nifty 50 lost 1.61% to hit a new 3-months low, while the BSE Sensex 30 index lost 1.45%.

The best performers of the session on the Nifty 50 were Tata Motors Ltd (NS:TAMO), which rose 6.34% or 26.55 points to trade at 445.60 at the close. Meanwhile, Bajaj Auto Ltd (NS:BAJA) added 6.01% or 223.60 points to end at 3,941.00 and Dr. Reddy’s Laboratories Ltd (NS:REDY) was up 2.65% or 111.50 points to 4,312.45 in late trade.

The worst performers of the session were Adani Enterprises Ltd (NS:ADEL), which fell 18.52% or 627.50 points to trade at 2,761.45 at the close. Adani Ports and Special Economic Zone Ltd (NS:APSE) declined 16.29% or 116.20 points to end at 596.95 and State Bank Of India (NS:SBI) was down 5.06% or 28.75 points to 539.95.

The top performers on the BSE Sensex 30 were Dr. Reddy’s Laboratories Ltd (BO:REDY) which rose 2.78% to 4,321.35, ITC Ltd (BO:ITC) which was up 1.77% to settle at 345.65 and Mahindra & Mahindra Ltd. (BO:MAHM) which gained 0.71% to close at 1,320.60.

The worst performers were State Bank Of India (BO:SBI) which was down 5.03% to 540.20 in late trade, ICICI Bank Ltd (BO:ICBK) which lost 4.41% to settle at 817.55 and IndusInd Bank Ltd. (BO:INBK) which was down 3.43% to 1,116.60 at the close.

Falling stocks outnumbered advancing ones on the India National Stock Exchange by 1629 to 313 and 31 ended unchanged; on the Bombay Stock Exchange, 2575 fell and 848 advanced, while 96 ended unchanged.

Shares in Adani Ports and Special Economic Zone Ltd (NS:APSE) fell to 52-week lows; falling 16.29% or 116.20 to 596.95.

The India VIX, which measures the implied volatility of Nifty 50 options, was up 18.18% to 17.32 a new 3-months high.

Gold Futures for February delivery was down 0.06% or 1.20 to $1,928.80 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in March rose 1.22% or 0.99 to hit $82.00 a barrel, while the March Brent oil contract rose 1.22% or 1.07 to trade at $88.54 a barrel.

USD/INR was up 0.11% to 81.50, while EUR/INR rose 0.13% to 88.77.

The US Dollar Index Futures was down 0.05% at 101.59.