India stocks lower at close of trade; Nifty 50 down 0.71%

Investing.com – India stocks were lower after the close on Wednesday, as losses in the Power, Banking and Public Sector Undertakings sectors led shares lower.

At the close in NSE, the Nifty 50 lost 0.71%, while the BSE Sensex 30 index lost 0.83%.

The best performers of the session on the Nifty 50 were Cipla Ltd. (NS:CIPL), which rose 3.45% or 40.50 points to trade at 1,214.00 at the close. Meanwhile, Dr. Reddy’s Laboratories Ltd (NS:REDY) added 2.18% or 120.90 points to end at 5,665.00 and Tata Motors Ltd (NS:TAMO) was up 1.76% or 11.55 points to 667.25 in late trade.

The worst performers of the session were Bajaj Finance Ltd (NS:BJFN), which fell 2.91% or 235.45 points to trade at 7,857.55 at the close. Bajaj Finserv Ltd (NS:BJFS) declined 1.91% or 31.65 points to end at 1,626.00 and NTPC Ltd (NS:NTPC) was down 1.46% or 3.60 points to 242.35.

The top performers on the BSE Sensex 30 were Dr. Reddy’s Laboratories Ltd (BO:REDY) which rose 2.29% to 5,675.85, Sun Pharmaceutical Industries Ltd. (BO:SUN) which was up 1.47% to settle at 1,152.55 and Maruti Suzuki India Ltd. (BO:MRTI) which gained 0.36% to close at 10,780.75.

The worst performers were Bajaj Finance Ltd (BO:BJFN) which was down 2.72% to 7,871.10 in late trade, Bajaj Finserv Ltd (BO:BJFS) which lost 2.02% to settle at 1,624.00 and NTPC Ltd (BO:NTPC) which was down 1.63% to 241.95 at the close.

Falling stocks outnumbered advancing ones on the India National Stock Exchange by 1350 to 702 and 60 ended unchanged; on the Bombay Stock Exchange, 2171 fell and 1399 advanced, while 137 ended unchanged.

Shares in Tata Motors Ltd (NS:TAMO) rose to all time highs; up 1.76% or 11.55 to 667.25. Shares in Maruti Suzuki India Ltd. (BO:MRTI) rose to all time highs; up 0.36% or 38.70 to 10,780.75.

The India VIX, which measures the implied volatility of Nifty 50 options, was up 2.52% to 10.97.

Gold Futures for December delivery was up 1.08% or 20.95 to $1,956.65 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in December rose 3.00% or 2.56 to hit $88.00 a barrel, while the December Brent oil contract rose 2.89% or 2.60 to trade at $92.50 a barrel.

USD/INR was down 0.03% to 83.27, while EUR/INR fell 0.19% to 87.90.

The US Dollar Index Futures was up 0.04% at 106.09.