India stocks lower at close of trade; Nifty 50 down 0.34%

India stocks closed lower on Friday as losses in the real estate, metals, and oil & gas sectors pulled the market down. The Nifty 50 index fell by 0.34% to a fresh 3-month low, while the BSE Sensex 30 index dropped 0.16%. Among Nifty 50's strongest performers were Dr Reddy's Laboratories Ltd, which surged 2.62% to close at 1,173.00, and HDFC Bank Ltd, which increased 2.12% to finish at 708.50. Tech Mahindra Ltd also saw gains, rising 0.86% to 1,538.90.

On the downside, Hindalco Industries Ltd experienced the steepest decline, slipping 2.81% to 985.50, followed by JSW Steel Ltd and Tata Steel Ltd, both falling 2.66% and 2.25% respectively. The majority of stocks on the NSE fell, with 1,540 declining and only 1,046 advancing, while 192 remained unchanged. Conversely, on the BSE Sensex, 2,303 stocks closed lower, while 1,740 rose, and 192 stayed flat.

Reliance Industries Ltd shares hit a 52-week low, falling 1.33% to close at 1,258.00. The India VIX surged to a 1-month high of 12.24, measuring the implied volatility of Nifty 50 options. Meanwhile, gold futures for December delivery declined 0.39% to $4,389.97 per troy ounce, and crude oil for October delivery dropped 3.25% to $99.15 a barrel. USD/INR decreased by 0.11% to 95.58, and EUR/INR slipped 0.06% to 110.77. The US Dollar Index Futures rose by 0.13% to 99.18.