Indices trade with minor gains; consumer durables shares slide

The domestic equity benchmarks came off the day`s high but traded with minor gains in early afternoon trade. The Nifty traded above the 17,750 mark after hitting the day`s low of 17,716.85 in early trade. Consumer durables shares witnessed selling pressure.

At 12:30 IST, the barometer index, the S&P BSE Sensex, was up 69.54 points or 0.12% to 60,125.64. The Nifty 50 index rose 26.45 points or 0.15% to 17,769.85.

In the broader market, the S&P BSE Mid-Cap index added 0.04% while the S&P BSE Small-Cap index gained 0.41%.

The market breadth was strong. On the BSE, 1,952 shares rose and 1,417 shares fell. A total of 131 shares were unchanged.

Derivatives:

The NSE`s India VIX, a gauge of the market`s expectation of volatility over the near term, fell 1.11% to 11.54. The Nifty 27 April 2023 futures were trading at 17,776.40 , at a premium of 6.55 points as compared with the spot at 17,769.85.

The Nifty option chain for the 27 April 2023 expiry showed maximum Call OI of 118.8 lakh contracts at the 17,700 strike price. Maximum Put OI of 160.3 lakh contracts were seen at 17,700 strike price.

Buzzing Index:

The Nifty Consumer Durables index declined 1.27% to 24,246.55. The index rose 0.53% in the past trading session.

Crompton Greaves Consumer Electricals (down 11.71%), Orient Electric (down 1.11%), Blue Star (down 1.05%), V-Guard Industries (down 0.56%), Bata India (down 0.43%), Rajesh Exports (down 0.41%), Dixon Technologies (India) (down 0.36%), Kajaria Ceramics (down 0.31%), Titan Company (down 0.31%) and Whirlpool of India (down 0.09%) slipped.

On the other hand, Havells India (up 0.62%) ,Relaxo Footwears (up 0.33%) and TTK Prestige (up 0.08%) edged higher.

Stocks in Spotlight:

Larsen & Toubro (L&T) rose 0.37% after the company announced that its Power Transmission & Distribution business has secured `significant` orders in India and overseas. As per L&T classification, the value of the large project is Rs 1,000 crore to Rs 2,500 crore. The business has secured orders to develop distribution infrastructure in two discom circles of western Rajasthan and a power supply system order for the second phase of Chennai Metro.

Venus Remedies added 2.07% after the company`s German subsidiary, Venus Pharma GmbH has secured marketing authorization from the UK Medicines and Healthcare products Regulatory Agency (MHRA) for Cisplatin.

Mahindra Logistics (MLL) declined 2.13%. The logistics & mobility solutions provider reported a consolidated net loss of Rs 1 crore in Q4 FY23 as against a net profit of Rs 6.3 crore in Q4 FY22. Revenue during the quarter increased by 16.9% YoY to Rs 1,272.5 crore.

Powered by Capital Market - Live News