Sensex down 99 pts; consumer durables stocks slide

The key equity benchmarks traded with minor losses in early afternoon trade. The Nifty traded below the 21,750 mark. Consumer durables shares slipped after declining in the past trading session.

At 12:30 IST, the barometer index, the S&P BSE Sensex, was down 98.81 points or 0.14% to 72,141.45. The Nifty 50 index lost 16.75 points or 0.08% to 21,714.65.

The broader market outperformed the headline indices. The S&P BSE Mid-Cap index rose 0.64% and the S&P BSE Small-Cap index gained 0.76%.

The market breadth was strong. On the BSE, 2,608 shares rose and 1,161 shares fell. A total of 187 shares were unchanged.

Derivatives:

The NSE`s India VIX, a gauge of the market`s expectation of volatility over the near term, declined 0.75% to 14.39. The Nifty 25 January 2024 futures were trading at 21,855, at a premium of 140.35 points as compared with the spot at 21,714.65.

The Nifty option chain for the 25 January 2024 expiry showed maximum Call OI of 25.9 lakh contracts at the 22,000 strike price. Maximum Put OI of 39.2 lakh contracts were seen at 21,000 strike price.

Buzzing Index:

The Nifty Consumer Durables index declined 0.08% to 31,107.05. The index rose 0.31% in the past trading session.

Rajesh Exports (up 2.14%), Orient Electric (up 1.34%), Kajaria Ceramics (up 1.06%), TTK Prestige (up 0.44%), Voltas (up 0.36%), Relaxo Footwears (up 0.31%), Titan Company (up 0.15%), Amber Enterprises India (up 0.15%), Crompton Greaves Consumer Electricals (up 0.13%) and Whirlpool of India (up 0.03%) advanced.

On the other hand, Dixon Technologies (India) (down 0.79%), V-Guard Industries (down 0.75%) and Bata India (down 0.24%) edged lower.

Stocks in Spotlight:

Nippon Life India Asset Management rose 1.35%. The AMC announced that Prateek Jain has resigned from the position of chief financial officer (CFO) due to personal reasons. Jain was relieved from his duties with immediate effect i.e., by the close of business hours on 29 December 2023, said the firm.

Mahindra & Mahindra (M&M) fell 1.34%. The auto maker announced that its overall auto sales for the month of December 2023 stood at 60,188 vehicles, registering a growth of 6.19% as against 56,677 vehicles sold in December 2022.

Further, the company`s Farm Equipment Sector (FES) announced that its total tractor sales (domestic + exports) during December 2023 were at 19,138 units, registergin a decline of 18% as against 23,243 units for the same period last year.

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