Sensex slumps 651 pts; consumer durables stocks slide

The domestic equity benchmarks traded with major losses in mid-afternoon trade, mirroring a broad selloff across Asian markets amid escalating geopolitical tensions in the Middle East and a sharp rise in crude oil prices. Nifty traded below the 23,200 level. Consumer durables shares declined after advancing in the past two trading sessions.

At 14:30 IST, the S&P BSE Sensex slipped 650.74 points or 0.88% to 73,592.60. The Nifty 50 index fell 208.60 points or 0.89% to 23,158.10.

The broader market underperformed the frontline indices. The BSE 150 MidCap Index declined 1.11% and the BSE 250 SmallCap Index shed 1.55%.

The market breadth was weak. On the BSE, 1,289 shares rose and 2,987 shares fell. A total of 197 shares were unchanged.

Buzzing Index:

The Nifty Consumer Durables index fell 1.19% to 35,042.80. The index jumped 2.3% in the past two trading sessions.

Kalyan Jewellers India (down 3.81%), Crompton Greaves Consumer Electricals (down 2.85%), PG Electroplast (down 2.62%), Whirlpool of India (down 2.57%), Titan Company (down 1.52%), Amber Enterprises India (down 1.51%), Blue Star (down 1.48%), Kajaria Ceramics (down 0.95%), Havells India (down 0.85%) and Voltas (down 0.84%) fell.

Numbers to Track:

The yield on India's 10-year benchmark federal paper shed 0.01% to 6.974 compared with previous session close of 6.975.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 95.6800 compared with its close of 95.1800 during the previous trading session.

MCX Gold futures for 5 August 2026 settlement fell 1.48% to Rs 1,53,295.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.09% to 100.15.

The United States 10-year bond yield rose 0.86% to 4.580.

In the commodities market, Brent crude for August 2026 settlement rose $4.30 or 4.62% to $97.39 a barrel after Israel launched fresh attacks on Lebanon over the weekend despite a ceasefire, raising concerns over regional stability and the smooth flow of oil shipments through the strategically important Strait of Hormuz.

Stocks in Spotlight:

Adani Ports and Special Economic Zone (APSEZ) shed 0.50%. The company said that it has secured a 10-year marine services contract for Argentina's first liquefied natural gas (LNG) export project.

Zee Entertainment Enterprises rose 0.42%. The company announced that its board will meet on Wednesday, 19 June 2026 to consider raising funds through the issuance of equity shares through various modes in one or more tranches.

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