India stocks lower at close of trade; Nifty 50 down 1.73%

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At the close in NSE, the Nifty 50 lost 1.73%, while the BSE Sensex 30 index declined 1.75%.

The best performers of the session on the Nifty 50 were Power Grid Corporation of India Ltd (NS:PGRD), which rose 1.88% or 3.95 points to trade at 213.65 at the close. Meanwhile, Oil And Natural Gas Corporation Ltd (NS:ONGC) added 1.47% or 2.50 points to end at 172.10 and NTPC Ltd (NS:NTPC) was up 0.71% or 0.95 points to 135.15 in late trade.

The worst performers of the session were Tata Consumer Products Ltd (NS:TACN), which fell 3.95% or 29.00 points to trade at 704.80 at the close. HDFC Bank Ltd (NS:HDBK) declined 3.66% or 55.85 points to end at 1468.15 and HDFC Life Insurance Company Ltd (NS:HDFL) was down 3.38% or 21.10 points to 603.25.

The top performers on the BSE Sensex 30 were Power Grid Corporation of India Ltd (BO:PGRD) which rose 1.88% to 213.65, NTPC Ltd (BO:NTPC) which was up 0.67% to settle at 135.15 and Tata Steel Ltd (BO:TISC) which gained 0.57% to close at 1182.90.

The worst performers were HDFC Bank Ltd (BO:HDBK) which was down 3.65% to 1468.60 in late trade, Larsen & Toubro Ltd (BO:LART) which lost 3.20% to settle at 1885.80 and Bajaj Finance Ltd (BO:BJFN) which was down 3.15% to 6930.65 at the close.

Falling stocks outnumbered advancing ones on the India National Stock Exchange by 1228 to 614 and 41 ended unchanged; on the Bombay Stock Exchange, 2026 fell and 1377 advanced, while 142 ended unchanged.

Shares in HDFC Life Insurance Company Ltd (NS:HDFL) fell to 52-week lows; down 3.38% or 21.10 to 603.25.

The India VIX, which measures the implied volatility of Nifty 50 options, was up 8.15% to 20.4375.

Gold Futures for April delivery was up 0.24% or 4.25 to $1812.05 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in March fell 1.05% or 0.97 to hit $91.34 a barrel, while the April Brent oil contract fell 0.58% or 0.54 to trade at $92.73 a barrel.

USD/INR was up 0.08% to 74.704, while EUR/INR fell 0.12% to 85.3305.

The US Dollar Index Futures was up 0.10% at 95.575.