India stocks lower at close of trade; Nifty 50 down 1.23%

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At the close in NSE, the Nifty 50 fell 1.23%, while the BSE Sensex 30 index declined 1.26%.

The best performers of the session on the Nifty 50 were Tata Consumer Products Ltd (NS:TACN), which rose 3.69% or 26.65 points to trade at 748.90 at the close. Meanwhile, Mahindra & Mahindra Ltd. (NS:MAHM) added 2.42% or 18.00 points to end at 761.20 and Cipla Ltd. (NS:CIPL) was up 2.04% or 21.35 points to 1,070.00 in late trade.

The worst performers of the session were Hindalco Industries Ltd. (NS:HALC), which fell 5.26% or 31.05 points to trade at 559.75 at the close. Oil And Natural Gas Corporation Ltd (NS:ONGC) declined 4.89% or 8.40 points to end at 163.40 and Tata Steel Ltd (NS:TISC) was down 4.88% or 63.25 points to 1,233.75.

The top performers on the BSE Sensex 30 were Mahindra & Mahindra Ltd. (BO:MAHM) which rose 2.31% to 760.85, Maruti Suzuki India Ltd. (BO:MRTI) which was up 1.40% to settle at 7,417.25 and Nestle India Ltd (BO:NEST) which gained 0.82% to close at 17,519.60.

The worst performers were Tata Steel Ltd (BO:TISC) which was down 4.89% to 1,233.65 in late trade, Kotak Mahindra Bank Ltd. (BO:KTKM) which lost 3.11% to settle at 1,733.40 and Tech Mahindra Ltd (BO:TEML) which was down 2.92% to 1,459.05 at the close.

Falling stocks outnumbered advancing ones on the India National Stock Exchange by 1292 to 523 and 22 ended unchanged; on the Bombay Stock Exchange, 1956 fell and 1325 advanced, while 98 ended unchanged.

Shares in Cipla Ltd. (NS:CIPL) rose to all time highs; up 2.04% or 21.35 to 1,070.00.

The India VIX, which measures the implied volatility of Nifty 50 options, was up 4.10% to 26.73.

Gold Futures for April delivery was down 1.40% or 27.45 to $1,933.35 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in April fell 5.48% or 5.65 to hit $97.36 a barrel, while the May Brent oil contract fell 5.37% or 5.74 to trade at $101.16 a barrel.

USD/INR was unchanged 0.00% to 76.53, while EUR/INR rose 0.76% to 84.25.

The US Dollar Index Futures was down 0.28% at 98.75.