Benchmarks move range-bound; consumer durables stocks slide

The headline equity benchmarks continued to trade with moderate losses in mid-afternoon trade, tracking weakness in global markets as escalating US?Iran conflict in the Middle East weighed on investor sentiment. Investors will monitor crude oil prices and FII outcomes. The Nifty traded below the 24,050 mark. Consumer durables shares fell after advancing in the past trading session.

At 14:30 IST, the barometer index, the S&P BSE Sensex declined 250.50 points or 0.32% to 77,018.90. The Nifty 50 index fell 72.80 points or 0.31% to 24,046.50.

In the broader market, the BSE 150 MidCap Index added 0.10% and the BSE 250 SmallCap Index rose 0.04%.

The market breadth was negative. On the BSE, 1,818 shares rose and 2,264 shares fell. A total of 205 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, declined 1.48% to 18.03.

Buzzing Index:

The Nifty Consumer Durables index dropped 0.91% to 37,070.85. The index rose 0.37% in the past trading session.

Kajaria Ceramics (down 4.21%), Voltas (down 4.20%), Whirlpool of India (down 1.69%), Kalyan Jewellers India (down 1.69%), Havells India (down 1.34%), LG Electronics India (down 1.09%), Crompton Greaves Consumer Electricals (down 0.94%), Dixon Technologies (India) (down 0.92%), Bata India (down 0.76%) and Blue Star (down 0.41%) declined.

On the other hand, Amber Enterprises India (up 2.44%) and Titan Company (up 0.09%) edged higher.

Numbers to Track:

The yield on India's 10-year benchmark federal paper rose 0.36% to 7.048 compared with previous session close of 7.023.

In the foreign exchange market, the rupee lowered against the dollar. The partially convertible rupee was hovering at 95.4150 compared with its close of 95.2300 during the previous trading session.

MCX Gold futures for 5 June 2026 settlement jumped 0.30% to Rs 149,787.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.07% to 98.32.

The United States 10-year bond yield lost 0.58% to 4.423.

In the commodities market, Brent crude for June 2026 settlement dropped $1.95 or 1.70% to $112.49 a barrel.

Stocks in Spotlight:

Mahindra & Mahindra (M&M) rose 1.63% after its standalone net profit jumped 53.34% to Rs 3,737.27 crore in Q4 FY26 as against Rs 2,437.14 crore reported in Q4 FY25. Total income increased by 25.29% year on year to Rs 40,244.81 crore in the quarter ended 31 March 2026.

HFCL rallied 4.76% after the company announced that it has secured purchase orders worth approximately Rs 84.23 crore for the supply of optical fiber cables.

SNL Bearings advanced 2.60%. The company reported an 8.21% year-on-year (YoY) decline in standalone net profit to Rs 2.57 crore for Q4 FY26, compared with Rs 2.80 crore in the corresponding quarter last year. However, revenue from operations rose 10.20% YoY to Rs 15.22 crore during the quarter.

Punjab Chemicals & Crop Protection shed 0.74%. The company has reported 55.8% jump in consolidated net profit to Rs 11 crore on a 3.1% rise in revenue to Rs 208.6 crore in Q4 FY26 as compared with Q4 FY25.

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