Nifty Consumer Durables dip 225 pts ahead of major earnings; TTK Prestige hits new high; Titan, Whirlpool, Blue Star drag

The sector was under pressure despite benchmarks Sensex and Nifty 50 cruising to new highs.

Oct 19, 2021 02:10 IST India Infoline News Service

Bear Market
Consumer durable stocks corrected from their past week's highs as heavyweight stocks witnessed sharp profit booking. Corporate earnings and the festive season continues to sway markets outlook in this sector. The Nifty Consumer Durables index has floated between an intraday high and low of 30,873.65 and 29,937.10 respectively. The sector was under pressure despite benchmarks Sensex and Nifty 50 cruising to new highs.

At around 2.06 pm, Nifty Consumer Durables was trading at 30,243.90 lower by 225.15 points or 0.74%. On the index, only 3 scrips advanced while 12 scrips declined.

TTK Prestige touched a new 52-week high of Rs10,587.15 per piece in the early trade. The stock was performing higher by over 13%.

Dixon Technologies climbed over 5.5%. The company's stock has been in the fast lane after the wholly-owned subsidiary- Dixon Electro Appliances received approval from the Government of India under the Production Linked Incentive Scheme for the manufacturing of Telecom and Networking Products in India.

Bata India surged over 1.3%.

On the contrary, Whirlpool dived over 3.5%, while Blue Star and index heavyweight plunged more than 2.2% each. Orient Electric and VGuard tumbled by 2% and 1.8%.

Stocks like Voltas, Kajaria Ceramics, and Amber shed more than 1% each. Havells, Crompton Greaves, and Relaxo slipped between 0.6-1%. Rajesh Exports dipped marginally.

Titan and TTK Prestige are set to announce their Q2 earnings on October 27, 2021.

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