Indices pare early gains; consumer durables shares decline for 4th day

The key equity benchmarks erased early gains and traded with significant losses in early afternoon trade, weighed down by elevated crude oil prices and selling pressure in index heavyweights. The Nifty slipped below the 22,750 mark after hitting an intraday high of 23,120.

Consumer durables shares witnessed selling pressure for fourth consecutive trading sessions.

At 12:25 IST, the barometer index, the S&P BSE Sensex declined 430.28 points or 0.59% to 73,425.76. The Nifty 50 index lost 165.95 points or 0.73% to 22,719.25.

The broader market underperformed the frontline indices. The Nifty MidCap 150 Index declined 1.87% and the Nifty SmallCap 250 Index fell 2.62%.

The market breadth was weak. On the BSE, 445 shares rose and 3,017 shares fell. A total of 91 shares were unchanged.

Brent crude for December 2026 settlement jumped $1.55 or 1.42% to $110.34 a barrel.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rallied 8.32% to 16. The Nifty 27 October 2026 futures were trading at 22,761.00 at a premium of 41.75 points as compared with the spot at 22,719.25.

The Nifty option chain for the 27 October 2026 expiry showed a maximum call OI of 1.55 crore contracts at the 23,000 strike price. A maximum put OI of 97.2 lakh contracts was seen at the 22,000 strike price.

Buzzing Index:

The Nifty Consumer Durables index declined 1.93% to 35,149.95. The index fell 3.88% in the four trading sessions.

Whirlpool of India (down 3.3%), LG Electronics India (down 3.08%), Dixon Technologies (India) (down 2.84%), Amber Enterprises India (down 2.75%), Crompton Greaves Consumer Electricals (down 2.33%), Voltas (down 2.22%), Havells India (down 2.21%), PG Electroplast (down 2.13%), Thangamayil Jewellery (down 2.08%) and Blue Star (down 1.36%) declined.

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