India stocks lower at close of trade; Nifty 50 down 1.18%

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At the close in NSE, the Nifty 50 lost 1.18%, while the BSE Sensex 30 index lost 1.31%.

The best performers of the session on the Nifty 50 were UPL Ltd (NS:UPLL), which rose 2.12% or 14.80 points to trade at 713.00 at the close. Meanwhile, Bharat Petroleum Corp. Ltd. (NS:BPCL) added 1.89% or 7.15 points to end at 386.00 and Indian Oil Corporation Ltd (NS:IOC) was up 1.28% or 1.55 points to 122.20 in late trade.

The worst performers of the session were Power Grid Corporation of India Ltd (NS:PGRD), which fell 3.92% or 8.40 points to trade at 206.10 at the close. Reliance Industries Ltd (NS:RELI) declined 3.00% or 74.60 points to end at 2408.25 and Kotak Mahindra Bank Ltd. (NS:KTKM) was down 2.55% or 50.05 points to 1914.20.

The top performers on the BSE Sensex 30 were Larsen & Toubro Ltd (BO:LART) which rose 0.72% to 1801.85, IndusInd Bank Ltd. (BO:INBK) which was up 0.61% to settle at 951.25 and Tata Steel Ltd (BO:TISC) which gained 0.47% to close at 1118.00.

The worst performers were Power Grid Corporation of India Ltd (BO:PGRD) which was down 4.03% to 206.00 in late trade, Reliance Industries Ltd (BO:RELI) which lost 3.05% to settle at 2408.15 and Kotak Mahindra Bank Ltd. (BO:KTKM) which was down 2.58% to 1913.60 at the close.

Rising stocks outnumbered declining ones on the India National Stock Exchange by 968 to 792 and 51 ended unchanged; on the Bombay Stock Exchange, 1760 rose and 1396 declined, while 141 ended unchanged.

The India VIX, which measures the implied volatility of Nifty 50 options, was up 2.03% to 18.4550.

Gold Futures for February delivery was up 0.52% or 9.25 to $1771.95 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in January rose 2.51% or 1.67 to hit $68.17 a barrel, while the February Brent oil contract rose 2.58% or 1.80 to trade at $71.47 a barrel.

USD/INR was up 0.19% to 75.113, while EUR/INR rose 0.30% to 84.9675.

The US Dollar Index Futures was down 0.01% at 96.145.