Indices trade lower; consumer durables shares decline

The key equity indices trade with moderate losses amid profit booking and mixed cues from global markets as cautious investor sentiment overshadowed optimism over the conclusion of the IndiaEU free trade agreement (FTA) and positive economic data. Participants are keeping a close watch on the rupees movement, ongoing Q3 corporate earnings, and evolving geopolitical developments.

Investors are also awaiting quarterly results from ITC, Tata Motors, and Vedanta, due later today, along with the upcoming Union Budget 2026 scheduled for February 1, 2026. Meanwhile, the Nifty traded below the 25,300 level.

Consumer durables shares declined after advancing in the past trading session.

At 11:25 IST, the barometer index, the S&P BSE Sensex declined 238.75 points or 0.29% to 82,108.31. The Nifty 50 index fell 74.70 points or 0.30% to 25,267.90.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index declined 0.42% and the S&P BSE Small-Cap index fell 0.71%.

The market breadth was weak. On the BSE, 1,425 shares rose and 2,478 shares fell. A total of 185 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, added 1.09% to 13.67.

Economy:

Indias industrial production rose to a 26-month high of 7.8% in December, up from 7.2% in November, according to data released by the government on January 28. The sharp pickup was driven by a broad-based acceleration across manufacturing, capital goods and infrastructure-linked segments, signalling resilient momentum at the end of the calendar year.

Buzzing Index:

The Nifty Consumer Durables index declined 1.74% to 33,575.45. The index advanced 0.64% in the past trading session.

Titan Company (down 2.54%), Centruyply (down 2.28%), Amber Enterprises (down 2.15%), Voltas(down 2.03%), PG Electroplast (down 1.40%), Crompton Greaves Consumer Electricals (down 1.55%) declined.

Stocks in Spotlight:

Larsen & Toubro added 3.54% after the company reported a 17.78% jump in standalone net profit to Rs 2,832.08 crore on 8.34% increase in revenue from operations to Rs 37,902.84 crore in Q3 FY26 over Q3 FY25.

Sagility fell 2.79%. The company reported a 23.4% increase in consolidated net profit to Rs 267.66 crore on a 35.7% rise in revenue from operations to Rs 1,971.15 crore in Q3 FY26 over Q3 FY25.

Global Markets:

Asia market mostly traded lower on Thursday after the U.S. Federal Reserve overnight kept its benchmark rate steady at a target range of 3.5% to 3.75%.

Investors will be keeping an eye on developments in Indonesia after the benchmark Jakarta Composite plunged over 8% on Wednesday after index provider MSCI had issued a statement warning of a potential downgrade of the country to frontier-market status.

Meanwhile, Singapores central bank left its monetary policy unchanged Thursday, while warning of upside risks to inflation and demand as the city-states economic outlook stays resilient. The countrys benchmark Straits Times Index inched 0.19% higher.

Overnight in the U.S., the S&P 500 reached a milestone level, hitting 7,000 for the first time, before pulling back as the Federal Reserve left interest rates unchanged and upped its economic growth assessment.

The broad market index ended the day down 0.01% at 6,978.03. Earlier, the S&P 500 was up 0.3% on the day, hitting an all-time intraday high of 7,002.28.

The Dow Jones Industrial Average added 0.02% to close at 49,015.60. The Nasdaq Composite outperformed and gained 0.17%, settling at 23,857.45.

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