Barometers trade in positive terrain; consumer durables shares advance

The key equity benchmarks traded with limited gains in mid-afternoon trade. The Nifty traded at 24,400 level after hitting day’s low of 24,212.10 in morning trade. Consumer Durables extended gains for the second consecutive trading sessions.

At 14:26 IST, the barometer index, the S&P BSE Sensex, was up 146.25 points or 0.18% to 79,852.16. The Nifty 50 index rose 32.70 points or 0.13% to 24,400.20.

In the broader market, the S&P BSE Mid-Cap index rose 0.25% and the S&P BSE Small-Cap index added 0.74%.

The market breadth was negative. On the BSE, 2,007 shares rose and 2,019 shares fell. A total of 120 shares were unchanged.

Buzzing Index:

The Nifty Consumer Durables index rose 1.06% to 38,699.80. The index jumped 1.68% in the two consecutive trading sessions.

Voltas (up 11.29%), V-Guard Industries (up 3.48%), Kalyan Jewellers India (up 1.61%), Rajesh Exports (up 0.81%) and Century Plyboards (India) (up 0.4%), Havells India (up 0.31%) and Titan Company (up 0.1%) advanced.

Numbers To Track:

The yield on India's 10-year benchmark federal paper was up 1.69% to 6.996 as compared with previous close 6.880.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 83.9675, compared with its close of 83.9525 during the previous trading session.

MCX Gold futures for 5 September 2024 settlement rose 0.38% to Rs 69,862.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.09% to 103.24.

The United States 10-year bond yield added 0.13% to 3.949.

In the commodities market, Brent crude for October 2024 settlement added 48 cents or 0.60% to $79.66 a barrel.

Stocks in Spotlight:

Hi-Tech Pipes gained 3.63% after its consolidated net profit jumped 62.17% to Rs 18.05 crore in Q1 FY25 as against Rs 11.13 crore posted in same quarter last year. revenue from operations rose by 27.3% YoY to Rs 866.98 crore in the quarter ended 30 June 2024.

Shipping Corporation of India soared 7.81% after the company’s consolidated net profit grew 69.85% to Rs 291.48 crore in Q1 FY25 as against Rs 171.61 crore posted in Q1 FY24. Revenue from operations rose 26.18% year on year (YoY) to Rs 1,514.27 crore in June 2024 quarter.

Morepen Laboratories jumped 2.27% after the company reported a consolidated net profit of Rs 36.17 crore in Q1 FY25, which is a rise of 147% as compared with the PAT of Rs 14.63 crore in Q1 FY24. Net revenue increased by 14% year-over-year (YoY) to Rs 458.64 crore during the period under review.