India stocks lower at close of trade; Nifty 50 down 1.63%

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At the close in NSE, the Nifty 50 fell 1.63% to hit a new 1-month low, while the BSE Sensex 30 index lost 1.56%.

The best performers of the session on the Nifty 50 were Hero MotoCorp Ltd (NS:HROM), which rose 2.47% or 61.70 points to trade at 2,563.35 at the close. Meanwhile, Tech Mahindra Ltd (NS:TEML) added 2.17% or 27.40 points to end at 1,290.75 and Power Grid Corporation of India Ltd (NS:PGRD) was up 1.99% or 4.65 points to 238.40 in late trade.

The worst performers of the session were Bajaj Finance Ltd (NS:BJFN), which fell 4.90% or 309.15 points to trade at 6,000.30 at the close. Divi’s Laboratories Ltd. (NS:DIVI) declined 4.58% or 199.95 points to end at 4,165.85 and Shree Cements Ltd. (NS:SHCM) was down 4.44% or 1,115.00 points to 23,973.65.

The top performers on the BSE Sensex 30 were Tech Mahindra Ltd (BO:TEML) which rose 2.21% to 1,291.50, Power Grid Corporation of India Ltd (BO:PGRD) which was up 1.88% to settle at 238.25 and ITC Ltd (BO:ITC) which gained 1.83% to close at 266.75.

The worst performers were Bajaj Finance Ltd (BO:BJFN) which was down 4.91% to 6,000.95 in late trade, AXIS Bank Ltd. (BO:AXBK) which lost 4.11% to settle at 673.20 and Bajaj Finserv Ltd (BO:BJFS) which was down 3.49% to 13,643.50 at the close.

Falling stocks outnumbered advancing ones on the India National Stock Exchange by 1481 to 347 and 28 ended unchanged; on the Bombay Stock Exchange, 2427 fell and 818 advanced, while 105 ended unchanged.

Shares in Power Grid Corporation of India Ltd (NS:PGRD) rose to all time highs; up 1.99% or 4.65 to 238.40. Shares in Power Grid Corporation of India Ltd (BO:PGRD) rose to all time highs; up 1.88% or 4.40 to 238.25.

The India VIX, which measures the implied volatility of Nifty 50 options, was up 4.72% to 21.25.

Gold Futures for June delivery was up 0.39% or 7.35 to $1,883.05 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in June rose 2.22% or 2.40 to hit $110.66 a barrel, while the July Brent oil contract rose 2.25% or 2.49 to trade at $113.39 a barrel.

USD/INR was up 0.46% to 76.86, while EUR/INR rose 0.94% to 81.38.

The US Dollar Index Futures was down 0.48% at 103.30.