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Market trade sideways; consumer durables shares decline

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The frontline indices traded in sideways in mid-afternoon trade. The Nifty traded below the 25,950 mark. Consumer durables shares extended losses for the second consecutive trading session.

At 14:30 IST, the barometer index, the S&P BSE Sensex was up 50.39 points or 0.07% to 84,973.19. The Nifty 50 index fell 6.10 points or 0.02% to 25,934.30.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index fell 0.74% and the S&P BSE Small-Cap index shed 0.40%.

The market breadth was negative. On the BSE, 1,589 shares rose and 2,323 shares fell. A total of 116 shares were unchanged.

 

Economy:

Moodys has revised its calendar year 2024 growth forecast for India to 7.1% from its earlier estimates of 6.8% in June, as it expects growth in the Asia-Pacific region to outpace the global economy.

Buzzing Index:

The Nifty Consumer Durables index slipped 0.95% to 43,776.45. The index fell 1.15% in two consecutive trading sessions.

Kajaria Ceramics (down 2%), Dixon Technologies (India) (down 1.85%), Titan Company (down 1.56%), Rajesh Exports (down 1.38%), Bata India (down 1.16%), Kalyan Jewellers India (down 0.98%), Cera Sanitaryware (down 0.95%), Havells India (down 0.78%), Crompton Greaves Consumer Electricals (down 0.69%) and Voltas (down 0.38%) declined.

On the other hand, Amber Enterprises India (up 1.81%), V-Guard Industries (up 1.64%) and Century Plyboards (India) (up 1.22%) edged higher.

Numbers to Track:

The yield on India's 10-year benchmark federal paper shed 0.23% to 6.860 as compared with previous close 6.876.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 83.6050, compared with its close of 83.6300 during the previous trading session.

MCX Gold futures for 4 October 2024 settlement rose 0.20% to Rs 75,150.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.06% to 100.41.

The United States 10-year bond yield grew 0.19% to 3.745.

In the commodities market, Brent crude for November 2024 settlement lost 8 cents or 0.11% to $75.09 a barrel.

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First Published: Sep 25 2024 | 2:24 PM IST

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