India stocks lower at close of trade; Nifty 50 down 2.35%

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At the close in NSE, the Nifty 50 fell 2.35% to hit a new 6-months low, while the BSE Sensex 30 index fell 2.74%.

The best performers of the session on the Nifty 50 were Oil And Natural Gas Corporation Ltd (NS:ONGC), which rose 13.13% or 21.70 points to trade at 186.95 at the close. Meanwhile, Hindalco Industries Ltd. (NS:HALC) added 6.16% or 35.95 points to end at 619.75 and Coal India Ltd (NS:COAL) was up 4.25% or 7.70 points to 188.70 in late trade.

The worst performers of the session were IndusInd Bank Ltd. (NS:INBK), which fell 7.48% or 67.50 points to trade at 834.40 at the close. AXIS Bank Ltd (NS:AXBK) declined 6.64% or 47.45 points to end at 667.55 and Maruti Suzuki India Ltd. (NS:MRTI) was down 6.60% or 478.25 points to 6,769.05.

The top performers on the BSE Sensex 30 were Bharti Airtel Ltd (BO:BRTI) which rose 3.46% to 675.60, HCL Technologies Ltd (BO:HCLT) which was up 1.38% to settle at 1,153.70 and Tata Steel Ltd (BO:TISC) which gained 1.12% to close at 1,291.75.

The worst performers were IndusInd Bank Ltd. (BO:INBK) which was down 7.63% to 834.10 in late trade, AXIS Bank Ltd. (BO:AXBK) which lost 6.70% to settle at 667.25 and Maruti Suzuki India Ltd. (BO:MRTI) which was down 6.56% to 6,769.00 at the close.

Falling stocks outnumbered advancing ones on the India National Stock Exchange by 1549 to 286 and 38 ended unchanged; on the Bombay Stock Exchange, 2544 fell and 813 advanced, while 131 ended unchanged.

Shares in Oil And Natural Gas Corporation Ltd (NS:ONGC) rose to 3-years highs; rising 13.13% or 21.70 to 186.95. Shares in Hindalco Industries Ltd. (NS:HALC) rose to all time highs; rising 6.16% or 35.95 to 619.75.

The India VIX, which measures the implied volatility of Nifty 50 options, was up 4.91% to 29.33.

Gold Futures for April delivery was up 1.97% or 38.80 to $2,005.40 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in April rose 6.29% or 7.28 to hit $122.96 a barrel, while the May Brent oil contract rose 6.38% or 7.54 to trade at $125.65 a barrel.

USD/INR was up 0.94% to 77.14, while EUR/INR unchanged 0.00% to 83.49.

The US Dollar Index Futures was up 0.65% at 99.32.