Sensex, Nifty hover near flatline; broader market outperforms

The headline equity indices traded near the flatline with minor losses in mid-afternoon trade, weighed down by uncertainty surrounding the US-Iran negotiations in Doha, fresh foreign fund outflows, and weakness in blue-chip IT stocks. Selling pressure in the IT sector continued to weigh on market sentiment as investors shifted their focus to the upcoming June-quarter earnings season. Meanwhile, the market remained volatile due to the NSE's monthly derivatives expiry. The Nifty traded below the 23,950 mark. Consumer durables shares advanced after declining in the past two consecutive trading sessions.

At 14:30 IST, the barometer index, the S&P BSE Sensex shed 41.76 points or 0.06% to 76,686.61. The Nifty 50 index slipped 8.90 points or 0.04% to 23,936.70.

The broader market outperformed the frontline indices. The BSE 150 MidCap Index jumped 0.69% and the BSE 250 SmallCap Index jumped 0.66%.

The market breadth was positive. On the BSE, 2,300 shares rose and 1,832 shares fell. A total of 216 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, slipped 1.85% to 13.36.

In the commodities market, Brent crude for August 2026 settlement rose 7 cents or 0.09% to $73.98 a barrel.

Buzzing Index:

The Nifty Consumer Durables index jumped 1.70% to 36,639.80. The index fell 1.51% in the past two consecutive trading sessions.

Whirlpool of India (up 3.21%), Titan Company (up 3.06%), Kalyan Jewellers India (up 2.61%), Amber Enterprises India (up 1.67%), Dixon Technologies (India) (up 0.98%), Kajaria Ceramics (up 0.83%), Crompton Greaves Consumer Electricals (up 0.27%), Blue Star (up 0.23%) and Havells India (up 0.16%) advanced.

On the other hand, Bata India (down 1.77%), Voltas (down 1%) and PG Electroplast (down 0.75%) edged lower.

Numbers to Track:

The yield on India's 10-year benchmark federal paper was down 0.58% to 6.716 as compared with previous close 6.755.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 94.7225 compared with its close of 94.5100 during the previous trading session.

MCX Gold futures for 5 August 2026 settlement shed 0.01% to Rs 142,400.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.26% to 101.13.

The United States 10-year bond yield lost 0.21% to 4.368.

Stocks in Spotlight:

Godavari Biorefineries added 1.92% after the company announced that it has commenced a corn / grain-based distillery at its Sameerwadi Unit, Karnataka, aimed at meeting the rising demand under India?s ethanol blending program.

Ceigall India declined 1.89%. The company announced that its wholly-owned subsidiary, Ceigall Morena Solar BESS Park, has executed a Power Purchase Agreement (PPA) with Rewa Ultra Mega Solar for a 220 MW solar-BESS project at Morena Solar Park in Morena, Madhya Pradesh.

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