Barometers trade with moderate cuts; consumer durables shares decline

The headline equity indices traded with modest losses in mid-afternoon trade, as investor sentiment was dented by the Trump administration?s new H-1B visa policy, which imposes a one-time $100,000 fee on new applicants. The measure is viewed as a setback for India?s IT sector. Trump?s decision overshadowed the impact of recent GST measures. The Nifty traded below 25,250 mark.

Consumer durables shares extended losses for the second consecutive trading session.

At 14:30 IST, the barometer index, the S&P BSE Sensex declined 362.86 points or 0.45% to 82,254.97. The Nifty 50 index fell 94.90 points or 0.37% to 25,230.75.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index fell 0.58% and the S&P BSE Small-Cap index slipped 0.55%.

The market breadth was negative. On the BSE, 1,833 shares rose and 2,408 shares fell. A total of 166 shares were unchanged.

Trumps H1B Visa

The Trump administration has issued a key clarification regarding its new visa policy, confirming that the controversial $100,000 H-1B visa fee will be a one-time charge applicable only to new applicants. The policy, which came into effect at midnight on Sunday, 21 September 2025, does not impact petitions filed before this date?offering limited relief to the rattled tech industry.

Despite the clarification, the sudden announcement triggered widespread panic among Indian professionals in the U.S. on H-1B visas. Confusion and uncertainty gripped many, with some canceling last-minute travel plans and others already in India scrambling to return. Immigration attorneys and companies quickly raised red flags, especially for H-1B holders and their families currently outside the U.S. for work or vacation. American lawmakers also criticized the move, calling it ?reckless? and potentially damaging to the country?s tech-driven economy.

Buzzing Index:

The Nifty Consumer Durables index fell 0.48% to 39,153.50. The index fell 1.12% in two consecutive trading sessions.

Voltas (down 3.24%), Crompton Greaves Consumer Electricals (down 1.58%), V-Guard Industries (down 1.15%), Bata India (down 1.11%), PG Electroplast (down 0.79%), Kalyan Jewellers India (down 0.75%), Whirlpool of India (down 0.58%), Titan Company (down 0.46%), Kajaria Ceramics (down 0.42%) declined.

On the other hand, Blue Star (up 1.58%), Cera Sanitaryware (up 0.98%) and Century Plyboards (India) (up 0.40%) edged higher.

Numbers to Track:

The yield on India's 10-year benchmark federal paper added 0.22% to 6.493 from the previous close of 6.489.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 88.2650 compared with its close of 88.1600 during the previous trading session.

MCX Gold futures for 3 October 2025 settlement jumped 1.44% to Rs 1,11,425.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.11% to 97.17.

The United States 10-year bond yield shed 0.34% to 4.126.

In the commodities market, Brent crude for November 2025 settlement gained 10 cents or 0.15% to $66.78 a barrel.

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