Indices pare some losses; consumer durables shares decline

The key equity indices erased some losses but traded with limited losses in the mid-morning trade. The Nifty traded above the 22,850 mark.

At 12:25 IST, the barometer index, the S&P BSE Sensex, slipped 281.11 points or 0.37% to 75,715.75. The Nifty 50 index declined 99.20 points or 0.43% to 22,860.30.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index declined 1.05% and the S&P BSE Small-Cap index dropped 2.21%.

The market breadth was weak. On the BSE, 832 shares rose and 2,988 shares fell. A total of 128 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, advanced 0.71% to 15.84. The Nifty 27 February 2025 futures were trading at 22,905.10 , at a premium of 44.8 points as compared with the spot at 22,860.30.

The Nifty option chain for the 27 February 2025 expiry showed a maximum call OI of 64.9 lakh contracts at the 24,000 strike price. Maximum put OI of 59.2 lakh contracts was seen at 23,000 strike price.

Buzzing Index:

The Nifty Consumer Durables index declined 1.84% to 35,138.50. The index rose 0.82% in the past trading session.

Amber Enterprises India (down 7.27%), Blue Star (down 4.23%), Kalyan Jewellers India (down 3.74%), Whirlpool of India (down 2.72%) and Voltas (down 2.55%), Dixon Technologies (India) (down 2.09%), Kajaria Ceramics (down 2.02%), Bata India (down 1.94%), Century Plyboards (India) (down 1.86%) and Havells India (down 1.8%) declined.

Stocks in Spotlight:

Deepak Fertilisers & Petrochemicals Corporation declined 3.58%. The company has announced that its wholly owned subsidiary, Deepak Mining Solutions (DMSL), has increased its shareholding in its Australian subsidiary, Platinum Blasting Services Pty, from 65% to 85%.

Suraksha Diagnostic declined 1.27% after the company said that its chief financial officer (CFO) and key managerial personal (KMP), Amit Saraf has resigned with effect from 15 February 2025.

ABB India shed 0.71% after the companys net profit increased 56% to Rs 528.41 crore in Q4 CY24, compared to Rs 338.68 crore in the same period last year. Revenue from operations jumped 22% to Rs 3,364.93 crore in the fourth quarter of the calendar year 2024 as against Rs 2,757.49 crore in the year-ago quarter.

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