India stocks lower at close of trade; Nifty 50 down 2.91%

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At the close in NSE, the Nifty 50 fell 2.91% to hit a new 1-month low, while the BSE Sensex 30 index lost 2.87%.

The best performers of the session on the Nifty 50 were Cipla Ltd. (NS:CIPL), which rose 7.42% or 66.75 points to trade at 966.70 at the close. Meanwhile, Dr. Reddy’s Laboratories Ltd (NS:REDY) added 3.47% or 159.30 points to end at 4750.90 and Divi’s Laboratories Ltd. (NS:DIVI) was up 2.88% or 138.00 points to 4937.80 in late trade.

The worst performers of the session were JSW Steel Ltd (NS:JSTL), which fell 7.67% or 52.25 points to trade at 628.65 at the close. Hindalco Industries Ltd. (NS:HALC) declined 6.72% or 30.05 points to end at 417.00 and Tata Motors Ltd (NS:TAMO) was down 6.61% or 32.55 points to 460.20.

The top performers on the BSE Sensex 30 were Dr. Reddy’s Laboratories Ltd (BO:REDY) which rose 3.32% to 4744.90, Nestle India Ltd (BO:NEST) which was up 0.35% to settle at 19255.00 and Asian Paints Ltd. (BO:ASPN) which gained 0.01% to close at 3143.90.

The worst performers were IndusInd Bank Ltd. (BO:INBK) which was down 6.01% to 901.45 in late trade, Maruti Suzuki India Ltd. (BO:MRTI) which lost 5.27% to settle at 7170.90 and Tata Steel Ltd (BO:TISC) which was down 5.23% to 1112.25 at the close.

Falling stocks outnumbered advancing ones on the India National Stock Exchange by 1438 to 350 and 29 ended unchanged; on the Bombay Stock Exchange, 2172 fell and 1042 advanced, while 100 ended unchanged.

The India VIX, which measures the implied volatility of Nifty 50 options, was up 24.85% to 20.8025 a new 6-months high.

Gold Futures for December delivery was up 1.37% or 24.40 to $1808.70 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in January fell 6.20% or 4.86 to hit $73.53 a barrel, while the January Brent oil contract fell 5.28% or 4.34 to trade at $77.88 a barrel.

USD/INR was up 0.60% to 74.922, while EUR/INR rose 1.26% to 84.5045.

The US Dollar Index Futures was down 0.56% at 96.325.