Barometers trade with modest cuts; consumer durables under pressure

The key equity benchmarks continued to trade with moderate losses in the morning trade. The Nifty slipped below the 23,600 level. Consumer durables shares declined after advancing in the past trading session.

At 10:30 IST, the barometer index, the S&P BSE Sensex, gained 436.72 points or 0.57% to 77,758.52. The Nifty 50 index added 120.80 points or 0.51% to 23,587.10.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index slipped 1.20% and the S&P BSE Small-Cap index fell 1.03%.

The market breadth was weak. On the BSE, 1,254 shares rose and 2,333 shares fell. A total of 144 shares were unchanged.

Economy:

The National Statistics Office (NSO), Ministry of Statistics and Programme Implementation (MoSPI) has released the First Advance Estimates of Annual Gross Domestic Product (GDP) for the Financial Year (FY) 2024-25 along with its expenditure components both at constant (2011-12) and current prices.

Real GDP has been estimated to grow by 6.4% in FY 2024-25 as compared to the growth rate of 8.2% in the Provisional Estimate (PE) of GDP for FY 2023-24. Nominal GDP has witnessed a growth rate of 9.7% in FY 2024-25 over the growth rate of 9.6% in FY 2023-24. Real GVA has grown by 6.4% in FY 2024-25 over the growth rate of 7.2% in FY 2023-24.

Buzzing Index:

The Nifty Consumer Durables index slipped 2.40% to 41,644.40. The index rose 0.12% in the past trading session.

Dixon Technologies (India) (down 6.36%), Kalyan Jewellers India (down 5.43%), Amber Enterprises India (down 4.45%), Voltas (down 2.87%), Century Plyboards (India) (down 2.3%), V-Guard Industries (down 1.65%), Titan Company (down 1.51%), Kajaria Ceramics (down 1.26%), Blue Star (down 1.17%) and Cera Sanitaryware (down 1.04%) declined.

On the other hand, Crompton Greaves Consumer Electricals (up 1.1%) edged higher.

Stocks in Spotlight:

Ashiana Housing jumped 6.50% after the company reported a 2.6 times increase in the sale value of the area booked to Rs 454.31 crore in Q3 FY25 from Rs 173.88 crore in Q3 FY24.

Signatureglobal (India) rose 0.74%. The company said that its pre-sales zoomed 120% to Rs 2,770 crore in Q3 FY25 from Rs 1,260 crore recorded in Q3 FY24.

Tata Steel shed 0.04%. The company informed that its India crude steel production stood at 5.68 million tons (MT) in Q3 FY25, up 6% as compared with 5.35 MT in Q3 FY24.

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