Indian equities finished lower on Friday as declines in Metals, Auto and Capital Goods sectors pushed major indices down. At the close on the National Stock Exchange, the Nifty 50 fell 2.06% to reach a new six-month low, while the BSE Sensex 30 retreated 1.93%.
Winners and losers on the Nifty 50
Among Nifty 50 constituents, Tata Consumer Products Ltd (NSE:TACN) was the session's top gainer, rising 2.29% - 24.20 points - to close at 1,082.00. Hindustan Unilever Ltd. (NSE:HLL) added 1.17% - 24.90 points - to end at 2,161.80. Bharti Airtel Ltd. (NSE:BRTI) also moved higher, up 0.26% - 4.70 points - to finish at 1,806.00.
At the other end of the Nifty, Larsen & Toubro Ltd (NSE:LART) registered the largest drop, declining 7.39% - 275.00 points - to close at 3,444.50. Hindalco Industries Ltd. (NSE:HALC) fell 6.07% - 58.85 points - to 910.90, while Tata Steel Ltd (NSE:TISC) slipped 5.31% - 10.27 points - to 183.20.
Sensex movers
On the BSE Sensex 30, Hindustan Unilever Ltd. (BO:HLL) was among the better performers, up 1.15% to 2,160.10. Bharti Airtel Ltd (BO:BRTI) rose 0.33% to settle at 1,806.70. ITC Ltd (BO:ITC) declined 0.63% to close at 302.00.
The weakest names on the Sensex mirrored the Nifty's losses. Larsen & Toubro Ltd (BO:LART) fell 7.38% to 3,446.50 in late trade. Tata Steel Ltd (BO:TISC) lost 5.30% to settle at 183.20, and State Bank Of India (BO:SBI) retreated 3.71% to 1,045.05 at the close.
Breadth and notable levels
Market breadth was heavily skewed to the downside. On the National Stock Exchange, 2,130 stocks fell versus 402 advancers and 35 unchanged. On the Bombay Stock Exchange, 3,115 shares declined, 912 advanced and 125 ended unchanged.
ITC Ltd (BO:ITC) was highlighted for hitting a multi-year low, falling to a three-year trough as it lost 0.63% - 1.90 - to 302.00.
Volatility, commodities and currencies
The India VIX, a gauge of implied volatility for Nifty 50 options, rose 5.72% to 22.75, indicating increased option-market volatility.
In commodities, April Gold Futures declined 0.62% - 31.61 - to $5,094.19 a troy ounce. Crude oil for April delivery fell 0.57% - 0.55 - to $95.18 a barrel, while the May Brent oil contract inched up 0.06% - 0.06 - to $100.52 a barrel.
On the currency front, the US dollar strengthened against the Indian rupee, with USD/INR up 0.24% to 92.59. EUR/INR moved lower, down 0.43% to 105.88. The US Dollar Index Futures was higher by 0.43% at 100.18.
This session's declines were concentrated in capital goods, metals and auto-related names, while certain consumer staples and telecom shares provided limited downside support. Elevated implied volatility and movements in commodities and currency pairs were notable market influences during the trading day.