Sensex slides 372 pts ; consumer durables decline

The equity benchmarks traded with moderate losses in mid-morning trade. The Nifty traded near the 24,250 mark. Consumer durables shares extended losses for the second consecutive trading session. Trading could be volatile due to monthly F&O series expiry today.

At 11:30 IST, the barometer index, the S&P BSE Sensex, declined 372.90 points or 0.46% to 79,573.48. The Nifty 50 index fell 90.05 points or 0.37% to 24,250.80.

In the broader market, the S&P BSE Mid-Cap index fell 0.35% and the S&P BSE Small-Cap index rose 0.76%.

The market breadth was strong. On the BSE, 2,415 shares rose and 1,249 shares fell. A total of 136 shares were unchanged.

 

Both, BSE and NSE will conduct the Muhurat trading session on Friday, 1 November, from 6:00 pm to 7:00 pm. While markets remain closed during the day, this evening session allows investors to make token investments, following a long-standing custom of trading during Diwali.

Buzzing Index:

The Nifty Consumer Durables index fell 0.92% to 39,229.60. The index slipped 2.09% in two trading sessions.

Voltas (down 3.33%), Havells India (down 1.36%), Amber Enterprises India (down 1.23%), Titan Company (down 1.18%), Dixon Technologies (India) (down 0.93%), Kajaria Ceramics (down 0.8%), Whirlpool of India (down 0.43%), Kalyan Jewellers India (down 0.07%), Bata India (down 0.04%) edged lower.

On the other hand, Blue Star (up 2.16%) ,Rajesh Exports (up 2.09%) and Cera Sanitaryware (up 0.78%) added.

Stocks in Spotlight:

Protean eGov Technologies declined 3.72% after the companys consolidated net profit declined 38% to Rs 28 crore on 11.8% increase in revenue from operations to Rs 220 crore in Q2 FY25 over Q2 FY24.

Automotive Axles slipped 4.09% after the companys consolidated net profit declined 20% to Rs 36 crore on 15.24% fall in consolidated revenue 15.24% to Rs 495 crore in Q2 FY25 over Q2 FY24.

Global Markets:

The US Dow Jones index futures are currently down by 63 points, signaling a negative opening for US stocks today.

Most Asian stocks traded lower on Thursday as investors look to the Bank of Japans rate decision, as well as key business activity figures from China.

The BOJ held its benchmark policy rate at 0.25%, unchanged from the previous meeting. The bank released a two-line statement simply stating the decision, with no clues on the timing of its next rate hike.

In China, the countrys manufacturing purchasing managers index flipped into expansion territory for the first time since April, with the National Bureau of Statistics revealing the manufacturing PMI came in at 50.1.

In the US, stocks rallied on Wednesday, with the tech-heavy Nasdaq Composite reaching a new record high, driven by strong earnings from Alphabet. The Dow Jones Industrial Average gained 0.51%, the S&P 500 rose 0.29%, and the Nasdaq Composite climbed 0.24%.

Economic data released on Wednesday showed that the US economy grew at an annual rate of 2.8% in the third quarter, supported by consumer spending and government expenditure. However, this was a slowdown from the second quarter's 3% pace. Additionally, US private payrolls surged by 233,000 jobs in October, exceeding expectations.

Market participants are cautiously looking ahead to a crucial week, which includes the release of US non-farm payrolls data on Friday, the presidential election next Tuesday, and a Federal Reserve policy decision next Thursday. Gold prices continued to climb, reaching a new record high.

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