Nifty near 19,700; consumer durables decline
Published on Sep 22, 2023 14:32
The key equity benchmarks traded with limited losses in mid-afternoon trade. The Nifty traded near the 19,700 level. Consumer durables shares witnessed selling pressure for the third consecutive trading session.
At 14:25 IST, the barometer index, the S&P BSE Sensex, was down 138.54 points or 0.21% to 66,091.70. The Nifty 50 index lost 36.80 points or 0.19% to 19,705.55.
In the broader market, the S&P BSE Mid-Cap index fell 0.13% while the S&P BSE Small-Cap index declined 0.07%.
The market breadth was negative. On the BSE, 1694 shares rose and 1,865 shares fell. A total of 176 shares were unchanged.
The Nifty Consumer durables index fell 0.63% to 29,150.85. The index slipped 1.32% in three trading sessions.
Titan Company (down 1.15%), Havells India (down 1.11%), Bata India (down 0.9%), Crompton Greaves Consumer Electricals (down 0.86%) and Orient Electric (down 0.23%) were the top losers. Among the other losers were V-Guard Industries (down 0.2%), Dixon Technologies (India) (down 0.14%), Voltas (down 0.11%), Blue Star (down 0.01%) declined.
On the other hand, Amber Enterprises India (up 1.4%) ,Relaxo Footwears (up 0.44%) and Kajaria Ceramics (up 0.38%) advanced.
Numbers to track:
The yield on India`s 10-year benchmark federal paper rose 0.01% to 7.137 from previous close of 7.136.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 82.9175, compared with its close of 83.13 during the previous trading session.
MCX Gold futures for 5 October 2023 settlement added 0.10% to Rs 58,881.
The US Dollar index (DXY), which tracks the greenback`s value against a basket of currencies, was up 0.19% to 105.57.
The United States 10-year bond yield declined 0.11% to 4.477.
In the commodities market, Brent crude for November 2023 settlement gained 47 cents or 0.50% to $93.77 a barrel.
Stocks in Spotlight:
NCC fell 0.20%. The company said that its joint venture, J Kumar Infra Projects (JKIL) has awarded contract from Brihanmumbai Municipal Corporation (BMC) for constructing twin tunnel.
Life Insurance Corporation of India (LIC) shed 0.54%. The company informed that it has increased its stake in Gujarat Gas from 4.981% to 5.012%.
Suzlon Energy declined 1.37%. The firm announced that it has bagged an order for the development of a 29.4 MW of wind installed capacity for 100 MW co‐located wind‐solar hybrid project of BrightNight, a global renewable power producer.
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