India stocks lower at close of trade; Nifty 50 down 2.29%

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At the close in NSE, the Nifty 50 fell 2.29% to hit a new 1-month low, while the BSE Sensex 30 index declined 2.29%.

The best performers of the session on the Nifty 50 were Oil And Natural Gas Corporation Ltd (NS:ONGC), which rose 3.77% or 5.90 points to trade at 162.25 at the close. Meanwhile, Britannia Industries Ltd (NS:BRIT) added 3.49% or 114.15 points to end at 3,385.45 and Power Grid Corporation of India Ltd (NS:PGRD) was up 2.61% or 6.05 points to 237.60 in late trade.

The worst performers of the session were Apollo Hospitals Enterprises Ltd. (NS:APLH), which fell 6.77% or 291.45 points to trade at 4,013.30 at the close. Adani Ports and Special Economic Zone Ltd (NS:APSE) declined 5.11% or 43.75 points to end at 812.80 and Hindalco Industries Ltd. (NS:HALC) was down 4.70% or 22.75 points to 461.65.

The top performers on the BSE Sensex 30 were Power Grid Corporation of India Ltd (BO:PGRD) which rose 2.75% to 237.60, NTPC Ltd (BO:NTPC) which was up 0.73% to settle at 158.65 and Kotak Mahindra Bank Ltd. (BO:KTKM) which gained 0.07% to close at 1,775.00.

The worst performers were Bajaj Finance Ltd (BO:BJFN) which was down 4.29% to 6,340.90 in late trade, Bajaj Finserv Ltd (BO:BJFS) which lost 4.18% to settle at 14,325.40 and Titan Company Ltd (BO:TITN) which was down 4.11% to 2,288.40 at the close.

Falling stocks outnumbered advancing ones on the India National Stock Exchange by 1525 to 317 and 28 ended unchanged; on the Bombay Stock Exchange, 2463 fell and 801 advanced, while 98 ended unchanged.

Shares in Power Grid Corporation of India Ltd (NS:PGRD) rose to all time highs; up 2.61% or 6.05 to 237.60. Shares in Power Grid Corporation of India Ltd (BO:PGRD) rose to all time highs; rising 2.75% or 6.35 to 237.60.

The India VIX, which measures the implied volatility of Nifty 50 options, was up 7.86% to 21.88 a new 1-month high.

Gold Futures for June delivery was down 0.04% or 0.81 to $1,869.79 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in June rose 3.99% or 4.09 to hit $106.50 a barrel, while the July Brent oil contract rose 3.94% or 4.14 to trade at $109.11 a barrel.

USD/INR was down 0.09% to 76.38, while EUR/INR fell 0.06% to 80.39.

The US Dollar Index Futures was down 0.06% at 103.43.