Nifty below 18,200 level, consumer durables shares decline

The headline equity indices traded with minor cuts in the afternoon trade. The Nifty hovered below the 18,200 level after hitting the day's high of 18,296.40 in the early trade. Consumer durables shares extended losses for the fifth consecutive trading session.

At 14:29 IST, the barometer index, the S&P BSE Sensex, was down 43.82 points or 0.07% to 61,104.64. The Nifty 50 index shed 9.50 points or 0.05% to 18,193.30.

In the broader market, the S&P BSE Mid-Cap index declined 0.25% while the S&P BSE Small-Cap index shed 0.05%.

The market breadth was positive. On the BSE, 1,827 shares rose and 1,657 shares fell. A total of 124 shares were unchanged.

Investors kept a close eye on the results of the U.S. midterm elections. Traders also continued to look ahead to Thursday's report on US consumer price inflation. The inflation data would give clues about how much the U.S. Federal Reserve's rapid interest rate hikes are helping in cooling down the economy.

Numbers to Track:

The yield on India's 10-year benchmark federal paper declined to 7.395 as compared with 7.434 at close in the previous trading session.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 82.32, compared with its close of 82.92 during the previous trading session.

MCX Gold futures for 5 December 2022 settlement fell 0.27% to Rs 51,492.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.16% to 109.47.

The United States 10-year bond yield shed 0.31% to 4.115.

In the commodities market, Brent crude for January 2023 settlement declined 38 cents or 0.40% at $94.98 a barrel.

Buzzing Index:

The Nifty Consumer Durables index declined 0.68% to 26,679.30, extending losing run for five trading session. The index shed 1.61% in five trading sessions.

Havells India (down 1.82%), Rajesh Exports (down 1.13%), Crompton Greaves Consumer Electricals (down 1.06%), Whirlpool of India (down 0.89%), Kajaria Ceramics (down 0.79%), Blue Star (down 0.71%), Titan Company (down 0.67%), TTK Prestige (down 0.39%), Orient Electric (down 0.23%), edged lower

On the other hand, V-Guard Industries (up 0.77%) ,Voltas (up 0.59%) and Bata India (up 0.56%) advanced.

Stocks in Spotlight:

NRB Bearings tumbled 16.73% after the company's consolidated net profit declined 46.67% to Rs 12.56 crore on 0.37% increase in net sales to Rs 257.52 crore in Q2 September 2022 over Q2 September 2021.

Fairchem Organics dropped 11.42% after the company's net profit tumbled 80.9% to Rs 4 crore on 0.4% increase in net sales to Rs 168.26 crore in Q2 September 2022 over Q2 September 2021.

VST Industries declined 1.79% after the cigarette maker reported a 15.4% increase in net profit to Rs 92.16 crore on 26.6% jump in revenue from operations (excluding excise duty) to Rs 343.39 crore in Q2 FY23 over Q2 FY22.

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