Sensex, Nifty under pressure; consumer durables shares drop
The Nifty tumbled below the 24,300 level, while sentiment remained subdued amid a lack of strong directional cues. Investors continued to monitor movements in crude oil prices and developments on the global geopolitical front for further indications on the market's near-term trajectory.
Consumer durables shares declined after gaining for two consecutive trading sessions.
At 11:25 IST, the barometer index, the S&P BSE Sensex declined 520.20 points or 0.67% to 77,633.13. The Nifty 50 index fell 172.40 points or 0.71% to 24,299.05.
The broader market outperformed the frontline indices. The BSE 150 MidCap Index declined 0.25% and the BSE 250 SmallCap Index fell 0.32%.
The market breadth was negative. On the BSE, 1,642 shares rose and 2,320 shares fell. A total of 235 shares were unchanged.
Initial Public Offer (IPO):
Shiprocket India received bids for 2,41,18,864 shares as against 9,44,36,030 shares on offer, according to stock exchange data at 11:15 IST on 12 August 2026. The issue was subscribed 0.26 times.
The issue opened for bidding on 12 August 2026 and will close on 14 August 2026. The price band of the IPO is fixed between Rs 92 and 97 per share. An investor can bid for a minimum of 154 equity shares and multiples thereof.
Behari Lal Engineering received bids 35,33,920 shares as against 74,12,769 shares on offer, according to stock exchange data at 11:15 IST on 12 August 2026. The issue was subscribed 0.48 times.
The issue opened for bidding on 12 August 2026 and will close on 14 August 2026. The price band of the IPO is fixed between Rs 271 and 285 per share. An investor can bid for a minimum of 52 equity shares and multiples thereof.
Milky Mist Diary Food received bids for 9,67,88,562 shares as against 8,17,98,244 shares on offer, according to stock exchange data at 11:15 IST on 11 August 2026. The issue was subscribed1.18 times.
The issue opened for bidding on 11 August 2026 and will close on 13 August 2026. The price band of the IPO is fixed between Rs 133 and 140 per share. An investor can bid for a minimum of 107 equity shares and multiples thereof.
Dhoot Transmission received bids for 18,98,00,920 shares as against 2,49,56,363 shares on offer, according to stock exchange data at 11:15 IST on 11 August 2026. The issue was subscribed 7.61 times.
The issue opened for bidding on 10 August 2026 and will close on 12 August 2026. The price band of the IPO is fixed between Rs 829 and 871 per share. An investor can bid for a minimum of 17 equity shares and multiples thereof.
Molbio Diagnostics received bids for 5,17,23,234 shares as against 81,58,529 shares on offer, according to stock exchange data at 11:15 IST on 11 August 2026. The issue was subscribed 6.34 times.
The issue opened for bidding on 10 August 2026 and will close on 12 August 2026. The price band of the IPO is fixed between Rs 768 and 807 per share. An investor can bid for a minimum of 18 equity shares and multiples thereof.
Buzzing Index:
The Nifty Consumer Durables index declined 1.18% to 39,828.50. The index rose 0.53% in the past two trading sessions.
Kalyan Jewellers India (down 1.54%), Dixon Technologies (India) (down 1.49%), Amber Enterprises India (down 1.29%), Titan Company (down 1.21%), Whirlpool of India (down 1.21%), Blue Star (down 1.02%), PG Electroplast (down 0.72%), Havells India (down 0.66%), Crompton Greaves Consumer Electricals (down 0.51%) and Voltas (down 0.45%) declined.
Stocks in Spotlight:
ESAB India jumped 3.73% after the company reported strong financial performance for Q1 FY27. On a standalone basis, net profit increased 37.13% YoY and 28.91% QoQ to Rs 56.14 crore in Q1 FY27. Net sales increased 19.63% YoY and 6.41% QoQ to Rs 421.12 crore in Q1 FY27.
PI Industries tumbled 5.19% after the company reported 39% fall in consolidated net profit to Rs 244.2 crore in Q1 FY27 from Rs 400 crore in Q1 FY26. Revenue for the period under review was Rs 1,702.3 crore, down 10% YoY.
TD Power Systems rose 14.71% after the company reported strong Q1 FY27 performance. On a consolidated basis, profit after tax increased 72.3% YoY and 19.5% QoQ to Rs 86.29 crore in Q1 FY27. Revenue from operations increased 72.1% YoY and 8.6% QoQ to Rs 640.05 crore in Q1 FY27.
Global Market:
Asian markets traded mixed on Wednesday as investors looked ahead to an important US inflation report that will likely determine the near-term direction for interest rates.
A surprisingly hot inflation report will likely alarm investors who expect it will shape what the Federal Reserve does at its September meeting, as policymakers take a reprieve in August.
The American Central Bank has been laser focused on the impact higher pricing pressures are having on the U.S. consumer, with three dissenters at the last meeting voting to raise rates. And those concerns have yet to abate, with U.S. oil prices pushing above $83 a barrel this week, as hopes of a reopening of the Strait of Hormuz dwindle.
Wednesday?s inflation report won?t be the last hurdle the stock market will have to get past this week. The July producer price index that?s due out Thursday will have to prove the prior month?s softer report can be repeated.
Overnight on Wall Street, the S&P 500 fell on Tuesday, bogged down by key technology stocks, as hopes among investors that the Strait of Hormuz would reopen faltered, exacerbating lingering doubts that the U.S. and Iran can reach a broader resolution to the conflict.
The broad market index lost 0.32%, dropping for a second day and closing at 7,728.20. The Nasdaq Composite fell 0.60% to 26,445.45. The Dow Jones Industrial Average shed 184.13 points, or 0.34%, to end at 53,791.85.
The moves come as oil prices rose amid uncertainty over the Middle East conflict, with the secretary of Iran?s Supreme National Security Council reiterating that the strait would not reopen until its conditions have been met, according to media reports.
The U.S. West Texas Intermediate futures closed up 1.3% at $83.20 a barrel. International benchmark Brent crude gained about 1.4% to close at $88.91 a barrel yesterday.
Powered by Capital Market - Live News