Nifty Consumer Durables shed 630 pts ahead of major Q2 earnings; Titan, TTK Prestige, Havells, Voltas drag

The Nifty Consumer Durables has hovered between an intraday high and low of 28,849.40 and 28,025.65 respectively.

Oct 21, 2021 02:10 IST India Infoline News Service

Consumer Durables stocks extended their selling bias even on Thursday due to broad-based selloff across heavyweights ahead of major Q2 earnings. The Nifty Consumer Durables has hovered between an intraday high and low of 28,849.40 and 28,025.65 respectively. At present, 12 scrips have declined while only 3 scrips have advanced with marginal upside.

The sector is said to have witnessed a rise in sales on the back of better-than-expected demand trends and positive sentiments this festive season. Demand is expected to further improve in this Diwali season as well.

At around 2.3 pm, Nifty Consumer Durables was trading at 28,232.10 nosediving by 629.75 points or 2.2%. Dixon Tech was the top gainer soaring 0.5%, while Blue Star and Crompton Greaves surged marginally.

On the contrary, Havells was the top bear slumping nearly 9% followed by Voltas and Amber diving by 4.5% and 3.4% respectively.

Kajaria Ceramics and Whirlpool slipped more than 2% each. TTK Prestige shed 1.6%, while Relaxo and Titan dipped over 1% each.

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

Further, on the index, Bata India dropped 0.7%, while Rajesh Exports was marginally lower.

VGuard and Orient Electric traded flat but in red.

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