Nifty below 24,350 mark; consumer durables shares slide

The domestic equity benchmarks traded with tiny losses in the morning trade. The Nifty traded below 24,350 mark. Consumer durables shares extended losses for the third consecutive trading session.

At 10:30 ST, the barometer index, the S&P BSE Sensex was down 54.19 points or 0.08% to 79,943.72. The Nifty 50 index lost 10.60 points or 0.04% to 24,313.25.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.33% and the S&P BSE Small-Cap index added 0.44%.

The market breadth was weak. On the BSE, 1,924 shares rose and 1,820 shares fell. A total of 164 shares were unchanged.

Buzzing Index:

The Nifty Consumer Durables index fell 1.07% to 38,065.90. The index declined 1.30% in the three trading sessions.

Titan Company (down 4.14%), Kajaria Ceramics (down 2.77%), Whirlpool of India (down 1.37%), Rajesh Exports (down 0.47%), Cera Sanitaryware (down 0.46%), Kalyan Jewellers India (down 0.26%), Century Plyboards (India) (down 0.24%), Amber Enterprises India (down 0.2%), Havells India (down 0.06%) slipped.

On the other hand, V-Guard Industries (up 4.78%) ,Crompton Greaves Consumer Electricals (up 3.17%) and Voltas (up 0.97%) edged higher.

Stocks in Spotlight:

Tata Motors rose 1.12% after the auto major`s Jaguar Land Rover (JLR) wholesale volume increased 5% year on year (YoY) to 97,755 units in Q1 FY25 (excluding the Chery Jaguar Land Rover China JV).

Man Industries (India) jumped 5.83% after the company announced that it has company has received a line pipe order of approximately Rs 1,850 crore from most reputable oil & gas international company.

Marico gained 5.39% after the FMCG major said that its domestic business saw a modest uptick in underlying volume growth on a sequential basis.

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