Nifty trades above 24,500 level; consumer durables shares in demand

The domestic equity benchmarks traded with modest gains in mid-morning trade as oil prices hovered around pre-war levels and foreign investors remained net buyers of Indian equities. The Nifty traded above the 24,500 level, while consumer durables shares extended gains for the second consecutive trading session.

At 11:30 IST, the barometer index, the S&P BSE Sensex, jumped 315.17 points or 0.40% to 78,600.64. The Nifty 50 index rose 89.25 points or 0.37% to 24,519.60.

The broader market underperformed the frontline indices. The BSE 150 MidCap Index declined 0.23% and the BSE 250 SmallCap Index fell 0.57%.

The market breadth was negative. On the BSE, 1,506 shares rose and 2,336 shares fell. A total of 209 shares were unchanged.

Buzzing Index:

The Nifty Consumer Durables index rose 0.56% to 37,585. The index gained 1.95% over two consecutive trading sessions.

Titan Company (up 3.03%), PG Electroplast (up 2.56%), Havells India (up 1.9%), Blue Star (up 0.33%) and Whirlpool of India (up 0.05%) advanced.

Titan Company rose 2.60% after the company reported a 41% year-on-year (YoY) growth in its consumer businesses for the quarter ended 30 June 2026 (Q1 FY27).

Stocks in Spotlight:

Jubilant FoodWorks rose 2.98% after its consolidated revenue from operations stood at Rs 2,569.3 crore in Q1 FY27, registering a 14.1% year-on-year (YoY) growth.

Global Markets:

Asian markets traded lower on Tuesday as investors looked ahead to the release of minutes from the latest US Federal Open Market Committee (FOMC) meeting.

Meanwhile, the Japanese ⁠yen struggled on the weaker side of 162 per dollar in early Asia trade and weakened to nearly its lowest against the British pound since 2007 at 217.09, having slid to a new low overnight.

Japan is scheduled to hold an auction of 30-year government bonds on Tuesday. If the auction is weak, government bond yields could rise further and accelerate selling of the yen, a global research house has reportedly said.

Oil edged higher, but gains were limited as traders turned their attention to supply increases and demand prospects after prices hit pre-Iran war levels on Monday. The U.S. crude rose 0.54% to $68.92 a barrel and Brent rose to $72.34 per barrel, up 0.49% on the day.

President Donald Trump ⁠said on Monday the United States would either reach a deal with Iran or finish the job, renewing his threat of military action as Tehran projects defiance following the funeral of former Supreme Leader Ayatollah Ali Khamenei.

Overnight in the US, stocks maintained their positive momentum on Monday following a strong week on Wall Street.

The S&P 500 gained 0.72% to end at 7,537.43, while the Nasdaq Composite advanced 1.12% to 26,121.16 as markets started a new trading week following Friday's U.S. Independence Day holiday. The Dow Jones Industrial Average climbed 155.84 points, or 0.29%, for a record close of 53,055.91.

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