Nifty below 23,900 level; consumer durables decline

The headline equity indices traded with sharp losses in morning trade after U.S. President Donald Trump rejected Iran?s response to a U.S. peace proposal, heightening concerns over a prolonged conflict in the Persian Gulf. Domestically, sentiment remained weak after Prime Minister Narendra Modi urged fuel conservation and restraint on non-essential imports, including gold purchases, amid rising energy prices. Nifty traded below the 23,900 level. Consumer durables shares declined after advancing in the previous trading session.

At 10:30 IST, the barometer index, the S&P BSE Sensex, tanked 1,106.59 points or 1.43% to 76,224.21. The Nifty 50 index fell 307.55 points or 1.27% to 23,868.60.

In the broader market, the BSE 150 MidCap Index slipped 1.22% and the BSE 250 SmallCap Index declined 1.15%.

The market breadth was weak. On the BSE, 1,268 shares rose and 2,650 shares fell. A total of 190 shares were unchanged.

PM Modi urges austerity amid energy crisis:

Amid elevated crude oil prices and the ongoing U.S.-Iran conflict, Prime Minister Narendra Modi urged citizens to adopt austerity measures, including reducing petrol and diesel consumption, avoiding non-essential gold purchases and foreign travel, and promoting the use of locally manufactured products. He also advocated greater use of public transport, EVs, work-from-home practices, and domestic tourism to conserve foreign exchange reserves and strengthen India?s economic resilience.

The Prime Minister also called for reduced edible oil consumption and lower dependence on chemical fertilizers, while encouraging natural farming and wider adoption of solar-powered irrigation systems. Stressing the importance of the ?Vocal for Local? initiative, Modi said increasing the use of indigenous products was essential to reduce import dependence and safeguard national interests amid global economic disruptions.

Buzzing Index:

The Nifty Consumer Durables index fell 3.70% to 35,931.90. The index rose 0.69% in the past trading session.

Kalyan Jewellers India (down 8.96%), Titan Company (down 7.64%), Whirlpool of India (down 4.18%), PG Electroplast (down 2.64%), Blue Star (down 2.36%), Amber Enterprises India (down 2.12%), Bata India (down 1.99%), Crompton Greaves Consumer Electricals (down 1.19%), Havells India (down 1.19%), and Voltas (down 1.15%) tanked.

Stocks in Spotlight:

Utkarsh Small Finance Bank tanked 7.03% after it reported a standalone net loss of Rs 188.01 crore in Q4 FY26, compared with a net profit of Rs 2.96 crore posted in Q4 FY25. Total income tanked 18.39% YoY to Rs 952.07 crore in the quarter ended 31 March 2026.

Tata Consumer Products surged 4.71% after the company reported a 21.53% jump in consolidated net profit to Rs 419.08 crore on a 17.91% increase in revenue from operations to Rs 5,433.62 crore in Q4 March 2026 over Q4 March 2025.

Bank of India added 3.47% after the bank reported a 14.85% increase in standalone net profit to Rs 3,015.79 crore on 4.3% increase in total income to Rs 22,685.38 crore in Q4 FY26 over Q4 FY25.

Powered by Capital Market - Live News