The key equity indices traded with major losses in mid-afternoon trade as concerns over global trade tensions weighed on investor sentiment. Tensions flared after the U.S hiked tarrifs on steel and aluminum, stoking fears for India exporters and global trade. Market participants are expected to closely monitor domestic economic indicators and global trade developments. The Nifty traded below the 24,600 level.
Consumer durables shares witnessed selling pressure for three consecutive trading sessions.
At 13:25 IST, the barometer index, the S&P BSE Sensex, declined 533.68 points or 0.67% to 80,830.54. The Nifty 50 index dropped 147.50 points or 0.60% to 24,569.10.
In the broader market, the S&P BSE Mid-Cap index fell 0.40% and the S&P BSE Small-Cap index shed 0.02%.
The market breadth was negative. On the BSE, 1,731 shares rose and 2,219 shares fell. A total of 149 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, declined 4.44% to 16.40.
Buzzing Index:
The Nifty consumer durables index declined 0.60% to 36,955.30. The index declined 1.84% for three consecutive trading sessions.
Bata India (down 2.19%), PG Electroplast (down 2.18%), Kajaria Ceramics (down 1.79%), Voltas (down 1.61%), Crompton Greaves Consumer Electricals (down 1.4%), Havells India (down 0.93%), Dixon Technologies (India) (down 0.83%), Whirlpool of India (down 0.58%), Amber Enterprises India (down 0.52%) and V-Guard Industries (down 0.33%) declined.
Numbers to Track:
The yield on India's 10-year benchmark federal paper declined 0.29% to 6.205 from previous close of 6.223.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 85.5450, compared with its close of 85.3950 during the previous trading session.
MCX Gold futures for 5 August 2025 settlement shed 0.19% to Rs 97,767.
The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.23% to 98.91.
The United States 10-year bond yield fell 1.14% to 4.410.
In the commodities market, Brent crude for August 2025 settlement rose 32 cents or 0.50% to $64.95 a barrel.
Stocks in Spotlight:
Medicamen Biotech soared 2.51% after the company has received its first Abbreviated New Drug Application (ANDA) approval from the U.S. Food and Drug Administration (USFDA) for Bortezomib for injection 3.5 mg.
Desco Infratech rose 2.08% after the company announced that it has received multiple orders from Bharat Petroleum Corporation, GAIL Gas, and Torrent Gas aggregating to Rs 19.19 crore.