India stocks lower at close of trade; Nifty 50 down 0.41%

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At the close in NSE, the Nifty 50 declined 0.41% to hit a new 3-months low, while the BSE Sensex 30 index declined 0.34%.

The best performers of the session on the Nifty 50 were Power Grid Corporation of India Ltd (NS:PGRD), which rose 3.12% or 6.25 points to trade at 206.50 at the close. Meanwhile, Shree Cements Ltd. (NS:SHCM) added 3.07% or 783.85 points to end at 26349.95 and Tata Consumer Products Ltd (NS:TACN) was up 2.35% or 18.00 points to 784.00 in late trade.

The worst performers of the session were Tata Steel Ltd (NS:TISC), which fell 4.01% or 44.75 points to trade at 1070.00 at the close. Kotak Mahindra Bank Ltd. (NS:KTKM) declined 3.10% or 62.60 points to end at 1957.00 and JSW Steel Ltd (NS:JSTL) was down 2.81% or 17.60 points to 608.00.

The top performers on the BSE Sensex 30 were Power Grid Corporation of India Ltd (BO:PGRD) which rose 3.43% to 206.80, Titan Company Ltd (BO:TITN) which was up 2.18% to settle at 2374.90 and Bajaj Finserv Ltd (BO:BJFS) which gained 1.98% to close at 17224.00.

The worst performers were Tata Steel Ltd (BO:TISC) which was down 3.87% to 1071.60 in late trade, Kotak Mahindra Bank Ltd. (BO:KTKM) which lost 2.87% to settle at 1962.15 and Bajaj Auto Ltd (BO:BAJA) which was down 1.72% to 3243.15 at the close.

Rising stocks outnumbered declining ones on the India National Stock Exchange by 982 to 787 and 48 ended unchanged; on the Bombay Stock Exchange, 1732 rose and 1420 declined, while 149 ended unchanged.

Shares in Power Grid Corporation of India Ltd (NS:PGRD) rose to 52-week highs; gaining 3.12% or 6.25 to 206.50. Shares in Power Grid Corporation of India Ltd (BO:PGRD) rose to 52-week highs; up 3.43% or 6.85 to 206.80.

The India VIX, which measures the implied volatility of Nifty 50 options, was up 1.62% to 21.1675 a new 6-months high.

Gold Futures for February delivery was up 0.78% or 14.00 to $1799.20 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in January fell 3.19% or 2.23 to hit $67.72 a barrel, while the February Brent oil contract fell 3.25% or 2.38 to trade at $70.84 a barrel.

USD/INR was up 0.22% to 75.195, while EUR/INR rose 0.92% to 85.4850.

The US Dollar Index Futures was down 0.69% at 95.675.