India stocks lower at close of trade; Nifty 50 down 12.98%
Investing.com
Published Mar 23, 2020 06:45AM ET
India stocks lower at close of trade; Nifty 50 down 12.98%
Investing.com – India stocks were lower after the close on Monday, as losses in the Banking, Capital Goods and Auto sectors led shares lower.
At the close in NSE, the Nifty 50 declined 12.98% to hit a new 3-years low, while the BSE Sensex 30 index lost 13.15%.
The best performers of the session on the Nifty 50 were Power Grid Corporation of India Ltd (NS:PGRD), which fell 2.54% or 4.00 points to trade at 153.25 at the close. Meanwhile, GAIL Ltd (NS:GAIL) fell 2.60% or 2.10 points to end at 78.70 and Cipla Ltd. (NS:CIPL) was down 3.26% or 12.80 points to 380.00 in late trade.
The worst performers of the session were AXIS Bank Ltd (NS:AXBK), which fell 27.60% or 118.15 points to trade at 310.00 at the close. Bajaj Finserv Ltd (NS:BJFS) declined 27.48% or 1713.05 points to end at 4520.00 and IndusInd Bank Ltd. (NS:INBK) was down 23.92% or 105.35 points to 335.00.
The top performers on the BSE Sensex 30 were Power Grid Corporation of India Ltd (BO:PGRD) which fell 2.22% to 154.00, HCL Technologies Ltd (BO:HCLT) which was down 3.73% to settle at 428.85 and NTPC Ltd (BO:NTPC) which lost 6.50% to close at 76.20.
The worst performers were AXIS Bank Ltd. (BO:AXBK) which was down 28.01% to 308.35 in late trade, Bajaj Finance Ltd (BO:BJFN) which lost 23.57% to settle at 2264.45 and IndusInd Bank Ltd. (BO:INBK) which was down 23.50% to 336.55 at the close.
Falling stocks outnumbered advancing ones on the India National Stock Exchange by 1457 to 86 and 55 ended unchanged; on the Bombay Stock Exchange, 1952 fell and 211 advanced, while 120 ended unchanged.
Shares in AXIS Bank Ltd (NS:AXBK) fell to 5-year lows; falling 27.60% or 118.15 to 310.00. Shares in Bajaj Finserv Ltd (NS:BJFS) fell to 52-week lows; falling 27.48% or 1713.05 to 4520.00. Shares in IndusInd Bank Ltd. (NS:INBK) fell to 5-year lows; down 23.92% or 105.35 to 335.00. Shares in AXIS Bank Ltd. (BO:AXBK) fell to 5-year lows; falling 28.01% or 120.00 to 308.35. Shares in Bajaj Finance Ltd (BO:BJFN) fell to 52-week lows; falling 23.57% or 698.25 to 2264.45. Shares in NTPC Ltd (BO:NTPC) fell to 5-year lows; falling 6.50% or 5.30 to 76.20. Shares in IndusInd Bank Ltd. (BO:INBK) fell to 5-year lows; falling 23.50% or 103.40 to 336.55.
The India VIX, which measures the implied volatility of Nifty 50 options, was up 7.28% to 71.9850.
Gold Futures for April delivery was up 0.75% or 11.10 to $1495.70 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in May fell 0.84% or 0.19 to hit $22.44 a barrel, while the May Brent oil contract fell 4.41% or 1.19 to trade at $25.79 a barrel.
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USD/INR was up 0.90% to 76.075, while EUR/INR rose 0.70% to 81.1720.
The US Dollar Index Futures was up 0.10% at 103.610.
Written By: Investing.com
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