India shares lower at close of trade; Nifty 50 down 5.56%

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India shares lower at close of trade; Nifty 50 down 5.56%
Credit: © Reuters.

Investing.com – India equities were lower at the close on Wednesday, as losses in the Banking , Power and Real Estate sectors propelled shares lower.

At the close in NSE, the Nifty 50 lost 5.56% to hit a new 3-year low, while the BSE Sensex 30 index lost 5.59%.

The biggest gainers of the session on the Nifty 50 were Zee Entertainment Enterprises Ltd. (NS: ZEE ), which rose 26.97% or 35.90 points to trade at 169.00 at the close. Yes Bank Ltd (NS: YESB ) added 5.12% or 3.00 points to end at 61.65 and Oil And Natural Gas Corporation Ltd (NS: ONGC ) was up 3.33% or 2.00 points to 62.00 in late trade.

Biggest losers included IndusInd Bank Ltd. (NS: INBK ), which lost 23.99% or 144.95 points to trade at 459.20 in late trade. Bharti Infratel Ltd (NS: BHRI ) declined 22.48% or 43.70 points to end at 150.70 and Kotak Mahindra Bank Ltd. (NS: KTKM ) shed 11.47% or 151.70 points to 1171.00.

The top performers on the BSE Sensex 30 were Oil And Natural Gas Corporation Ltd (BO: ONGC ) which rose 9.83% to 65.95, ITC Ltd (BO: ITC ) which was up 0.97% to settle at 150.65 and State Bank Of India (BO: SBI ) which lost 0.12% to close at 214.65.

The worst performers were IndusInd Bank Ltd. (BO: INBK ) which was down 23.90% to 459.85 in late trade, Power Grid Corporation of India Ltd (BO: PGRD ) which lost 11.29% to settle at 143.85 and Kotak Mahindra Bank Ltd. (BO: KTKM ) which was down 11.23% to 1173.00 at the close.

Declining stocks outnumbered rising ones by 1341 to 219 and 66 ended unchanged; on the Bombay Stock Exchange, 1909 fell and 349 advanced, while 138 ended unchanged on the India National Stock Exchange.

The India VIX , which measures the implied volatility of Nifty 50 options, was up 1.64% to 63.9550 a new 5-year high.

In commodities trading, Gold Futures for April delivery was down 1.16% or 17.75 to $1508.05 a troy ounce. Meanwhile, Crude oil for delivery in May fell 5.78% or 1.58 to hit $25.75 a barrel, while the May Brent oil contract fell 2.96% or 0.85 to trade at $27.88 a barrel.

USD/INR was up 0.35% to 74.320, while EUR/INR rose 0.46% to 81.8080.

The US Dollar Index Futures was up 0.13% at 99.935.

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