India stocks lower at close of trade; Nifty 50 down 8.30%

By Ritu,

Capital Sands

India stocks were lower after the close on Thursday, as losses in the Public Sector UndertakingsOil & Gas and Real Estate sectors led shares lower.

At the close in NSE, the Nifty 50 lost 8.30% to hit a new 52-week low, while the BSE Sensex 30 index lost 8.18%.

The best performers of the session on the Nifty 50 were Bharti Infratel Ltd , which fell 1.22% or 2.75 points to trade at 222.00 at the close. Meanwhile, Asian Paints Ltd.  fell 1.59% or 29.90 points to end at 1852.95 and Nestle India Ltd was down 2.23% or 358.55 points to 15690.00 in late trade.

The worst performers of the session were Yes Bank Ltd , which fell 13.02% or 3.75 points to trade at 25.05 at the close. UPL Ltd  declined 12.95% or 66.95 points to end at 450.00 and Vedanta Ltd  was down 12.61% or 11.60 points to 80.40.

The top performers on the BSE Sensex 30 were Asian Paints Ltd.  which fell 1.72% to 1850.30, Nestle India Ltd  which was down 2.37% to settle at 15676.00 and Tata Steel Ltd  which lost 4.21% to close at 286.80.

The worst performers were State Bank Of India which was down 13.23% to 212.75 in late trade, Oil And Natural Gas Corporation Ltd which lost 12.63% to settle at 62.60 and AXIS Bank Ltd.  which was down 12.27% to 542.85 at the close.

Falling stocks outnumbered advancing ones on the India National Stock Exchange by 1487 to 91 and 59 ended unchanged; on the Bombay Stock Exchange, 2131 fell and 202 advanced, while 100 ended unchanged.

Shares in UPL Ltd fell to 52-week lows; falling 12.95% or 66.95 to 450.00. Shares in Vedanta Ltd  fell to 3-years lows; down 12.61% or 11.60 to 80.40. Shares in State Bank Of India  fell to 3-years lows; falling 13.23% or 32.45 to 212.75. Shares in Oil And Natural Gas Corporation Ltd fell to 5-year lows; falling 12.63% or 9.05 to 62.60. Shares in Tata Steel Ltd  fell to 3-years lows; down 4.21% or 12.60 to 286.80. Shares in AXIS Bank Ltd.  fell to 52-week lows; losing 12.27% or 75.90 to 542.85.

The India VIX, which measures the implied volatility of Nifty 50 options, was up 30.45% to 41.1625 a new 5-year high.

Gold Futures for April delivery was down 0.21% or 3.45 to $1638.85 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in April fell 5.31% or 1.75 to hit $31.23 a barrel, while the May Brent oil contract fell 5.56% or 1.99 to trade at $33.80 a barrel.

USD/INR was up 0.73% to 74.215, while EUR/INR rose 0.44% to 83.3805.

The US Dollar Index Futures was up 0.26% at 96.740.