India stocks lower at close of trade; Nifty 50 down 2.48%

By Ritu,

Capital Sands

India stocks were lower after the close on Friday, as losses in the MetalsPublic Sector Undertakings and Banking sectors led shares lower.

At the close in NSE, the Nifty 50 fell 2.48% to hit a new 3-months low, while the BSE Sensex 30 index lost 2.32%.

The best performers of the session on the Nifty 50 were Bajaj Auto Ltd , which rose 1.53% or 41.35 points to trade at 2745.00 at the close. Meanwhile, GAIL Ltd  added 0.84% or 0.90 points to end at 107.70 and Maruti Suzuki India Ltd. (NS:MRTI) was up 0.43% or 27.15 points to 6393.10 in late trade.

The worst performers of the session were Yes Bank Ltd , which fell 54.89% or 20.20 points to trade at 16.60 at the close. Tata Motors Ltd  declined 9.50% or 11.95 points to end at 113.80 and Zee Entertainment Enterprises Ltd. (NS:ZEE) was down 7.29% or 17.35 points to 220.80.

The top performers on the BSE Sensex 30 were Bajaj Auto Ltd which rose 1.20% to 2736.10, Maruti Suzuki India Ltd.  which was up 1.03% to settle at 6430.30 and Asian Paints Ltd.  which gained 0.13% to close at 1877.80.

The worst performers were Tata Steel Ltd  which was down 6.51% to 351.20 in late trade, State Bank Of India  which lost 6.19% to settle at 270.45 and IndusInd Bank Ltd.  which was down 5.62% to 1014.30 at the close.

Falling stocks outnumbered advancing ones on the India National Stock Exchange by 1287 to 287 and 57 ended unchanged; on the Bombay Stock Exchange, 1837 fell and 493 advanced, while 115 ended unchanged.

Shares in Yes Bank Ltd  fell to 5-year lows; losing 54.89% or 20.20 to 16.60. Shares in Zee Entertainment Enterprises Ltd. fell to 5-year lows; losing 7.29% or 17.35 to 220.80. Shares in IndusInd Bank Ltd.  fell to 3-years lows; falling 5.62% or 60.40 to 1014.30.

The India VIX, which measures the implied volatility of Nifty 50 options, was up 10.30% to 25.6425 a new 6-months high.

Gold Futures for April delivery was up 1.11% or 18.50 to $1686.50 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in April fell 4.16% or 1.91 to hit $43.99 a barrel, while the May Brent oil contract fell 4.34% or 2.17 to trade at $47.82 a barrel.

USD/INR was up 0.41% to 73.800, while EUR/INR rose 1.00% to 83.4255.

The US Dollar Index Futures was down 0.81% at 96.007.

Author: Ritu

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