Indian shares pare losses; consumer durables slide for second day

Indian equity benchmarks Sensex and Nifty pared some losses but traded moderately lower by mid-morning, with the Nifty above 22,650. Consumer durables shares fell for a second straight session, while cautious sentiment persisted due to surging crude oil prices and rising global bond yields. The Sensex declined 202.44 points to 72,566.47, and the Nifty dropped 105.70 points to 22,674. Market breadth was weak, with 1,851 shares falling against 1,462 rising on the NSE. Brent crude rose 2.02% to $107.30 a barrel, and the US 10-year bond yield added 0.11% to 5.251%. The Nifty Consumer Durables index fell 1.10%, with Whirlpool of India down 3.5% and Havells India down 2.41%. Several IPOs were active, including German Green Steel and Power, subscribed 8.51 times, and Orient Cables, subscribed 13.77 times. Asian markets traded lower following overnight Wall Street losses.