broader mkt underperforms; consumer durables shares decline

The headline equity benchmarks traded with minor losses in early afternoon trade. The Nifty traded below 25,550 mark. Consumer Durables shares declined after advancing in past trading session.

In the barometer index, the S&P BSE Sensex declined 24.21 points or 0.03% to 83,434.94. The Nifty 50 index fell 57.35 points or 0.22% to 25,545.25.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index shed 1.06%, while the S&P BSE Small-Cap index dropped 1.36%.

The market breadth was weak. On the BSE, 1,187 shares rose and 2,840 shares fell. A total of 179 shares were unchanged.

Economy:

The seasonally adjusted HSBC India Services PMI Business Activity Index stood at 58.9 in October, comfortably above both the neutral mark of 50.0 and its long-run average of 54.3. October data showed softer, although still substantial, expansions in Indian services output and new business. While factors like demand buoyancy and GST (Goods and Services Tax) relief reportedly led to an improvement in operating conditions, competition and heavy rains constrained growth.

HSBC India Composite PMI Output Index fell to 60.4 in October from 61.0 in September. There was also a weaker, albeit still substantial, upturn in aggregate sales. The rate of expansion was the softest in five months. For new orders and output, the slowdowns in growth were centred on the service economy as manufacturers actually registered quicker rates of expansion.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rose 0.29% to 12.70. The Nifty 25 November 2025 futures were trading at 25,651 at a premium of 105.75 points as compared with the spot at 25,545.25.

The Nifty option chain for the 25 November 2025 expiry showed a maximum call OI of 62.7 lakh contracts at the 26,000 strike price. Maximum put OI of 46.4 lakh contracts was seen at the 25,000 strike price.

Buzzing Index:

The Nifty Consumer Durables index fell 1.50% to 38,076.05. The index added 0.39% in the previous trading session.

Blue Star (down 3.84%), Voltas (down 3.7%), PG Electroplast (down 3.17%), Kajaria Ceramics (down 2.24%) and Havells India (down 2.11%), Cera Sanitaryware (down 1.74%), Whirlpool of India (down 1.67%), Bata India (down 1.32%), Crompton Greaves Consumer Electricals (down 1.25%) and Kalyan Jewellers India (down 0.88%) declined.

Stocks in Spotlight:

Delhivery slumped 7.15% after the company reported a consolidated net loss of Rs 50.37 crore in Q2 FY26, compared with a net profit of Rs 10.20 crore in Q2 FY25. Revenue from operations increased 16.87% year on year to Rs 2,559.32 crore in Q2 FY26.

Sun Pharmaceutical Industries shed 0.41%. The company has reported 2.6% rise in consolidated net profit to Rs 3,118 crore on a 8.6% increase in revenue to Rs 14,405.2 crore in Q2 FY26 as compared with Q2 FY25.

Motherson Sumi Wiring India advanced rose 0.32%. The company reported 9% increase in net profit to Rs 165 crore on a 19% rise in revenue to Rs 2,762 crore in Q2 FY26 as compared with Q2 FY25.

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