Barometers pare gains; consumer durables shares tumble

The domestic equity benchmarks pared all early gains and traded with steep losses in morning trade. The Nifty slipped below the 23,200 level after hitting the days high of 23,426.30 in early trade. Consumer durables shares declined after gaining in past two consecutive trading sessions.

At 10:30 IST, the barometer index, the S&P BSE Sensex, dropped 768.24 points or 1% to 76,280.98. The Nifty 50 index lost 189 points or 0.81% to 23,155.70.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index fell 1.23% and the S&P BSE Small-Cap index declined 1.12%.

The market breadth was strong. On the BSE, 1,386 shares rose and 2,174 shares fell. A total of 167 shares were unchanged.

 

Result Today:

ICICI Prudential Life Insurance Company (down 0.05%), Tata Technologies (up 2.17%), Dalmia Bharat (up 0.90%), Aditya Birla Real Estate (down 1.20%), Cyient DLM (up 1.17%), India Cements (up 4.98%), IndiaMART InterMESH (up 1.52%), Indoco Remedies (up 0.49%), Jana Small Finance Bank (down 1.24%), KEI Industries (up 2.17%), PNB Housing Finance (up 0.07%), South Indian Bank (down 1%), Tanla Platforms (up 5.04%), and UCO Bank (down 1.39%) will declare their result later today.

Buzzing Index:

The Nifty Consumer Durables index dropped 2.87% to 38,588.25. The index gained 1.37% in past two consecutive trading sessions.

Dixon Technologies (India) (down 10.89%), Kalyan Jewellers India (down 4.64%), Amber Enterprises India (down 3.78%), V-Guard Industries (down 2.42%), Blue Star (down 1.99%), Crompton Greaves Consumer Electricals (down 0.99%), Voltas (down 0.97%), Havells India (down 0.60%), Rajesh Exports (down 0.47%) and Whirlpool of India (down 0.46%) declined.

On the other hand, Century Plyboards (India) (up 1.40%), Kajaria Ceramics (up 0.81%) and Bata India (up 0.05%) edged higher.

Stocks in Spotlight:

Glenmark Pharmaceuticals added 0.42%. The companys US-based division Glenmark Pharmaceuticals Inc. announced the launch Phytonadione Injectable Emulsion. This product is indicated in coagulation disorders caused by vitamin K deficiency or interference with vitamin K activity.

Ugro Capital slipped 1.57%. The company said that its investment and borrowing committee of the board is scheduled to meet on Thursday, 23rd January 2025 to consider raising funds via private placement.

Reliance Power slipped 1.86%. The companys board has appointed Neeraj Parakh as chief executive officer (CEO) for 3 years.

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