Indices trade sideways; consumer durables shares decline

The key equity indices traded sideways in the mid-afternoon trade. The Nifty traded above the 23,150 level. Investors assessed the U.S. Federal Reserve's decision to keep interest rates unchanged at 4.25'4.5%. Market participants are closely awaiting the Union Budget 2025, with expectations for growth-supportive initiatives that strike a balance with fiscal discipline. Trading was volatile due to the monthly Nifty 50 F&O series expiry today.

Consumer durables stocks declined after advancing in the previous trading sessions.

At 14:30 IST, the barometer index, the S&P BSE Sensex, fell 43.52 points or 0.06% to 76,489.44. The Nifty 50 index added 5.60 points or 0.02% to 23,168.70.

In the broader market, the S&P BSE Mid-Cap index declined 0.19% and the S&P BSE Small-Cap index fell 0.12%.

The market breadth was strong. On the BSE, 2,030 shares rose and 1,852 shares fell. A total of 142 shares were unchanged.

Buzzing Index:

The Nifty Consumer Durables index slipped 1.96% to 36,649.25. The index added 1.41% in the past trading sessions.

Whirlpool of India (down 20%), Voltas (down 13.05%), Amber Enterprises India (down 3%), Kalyan Jewellers India (down 2.03%), Rajesh Exports (down 1.92%), Blue Star (down 1.44%), Crompton Greaves Consumer Electricals (down 1.06%), Kajaria Ceramics (down 0.91%), Cera Sanitaryware (down 0.75%) and Bata India (down 0.44%) advanced.

On the other hand, V-Guard Industries (up 0.87%),Dixon Technologies (India) (up 0.53%) and Century Plyboards (India) (up 0.13%) edged lower.

Numbers to Track:

The yield on India's 10-year benchmark federal paper advanced 1.69% to 6.796 as compared with previous close 6.791.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 86.5900, compared with its close of 86.5575 during the previous trading session.

MCX Gold futures for 5 February 2025 settlement was rose 0.59% to Rs 80,750.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.06% to 107.88.

The United States 10-year bond yield fell 1.05% to 4.507.

In the commodities market, Brent crude for March 2025 settlement declined 24 cents or 0.31% to $76.34 a barrel.

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