Nifty Consumer Durables advances over 1% as heavyweights Titan, Havells lead the bull charge

Kajaria Ceramics and Whirlpool also added some marginal gains to the sector.

Aug 30, 2021 10:08 IST India Infoline News Service

Daily Market Strategy
Indian equity benchmarks started this week on a positive note, hitting fresh record highs. Among sectors, Nifty Consumer Durables index along with metal, realty, power and auto indices climbs between 1-2% and continued to extend their gains. Indices trading at day's high level with Nifty around 16,850.

As per provisional data available on the NSE, Foreign institutional investors (FIIs) net sold shares worth Rs778.75cr, while domestic institutional investors (DIIs) net bought shares worth Rs1,646.19cr in the Indian equity market on August 27.

Japan's retail sales rose for a fifth straight month in July, beating expectations as the consumer sector continued its recovery, although a coronavirus resurgence has cast doubts over the spending outlook.

At around 10:40 AM, Nifty Consumer Durables was trading at 24,380.10 up 282.30 points or 1.17%, after touching a high of 24,406.60 and low of 24,181.65 during intraday trade.

In terms of gains, the index was lifted by heavyweight Titan being the top performer surging near 2% at 1858.50 per piece. 

Havells and Dixon followed with nearly 1.5% gain, while Crompton Greaves and Voltas zoomed by 1.22% and 1.03% respectively. Recently, Voltas launched its brand shop at Prayagraj, Uttar Pradesh.

Relaxo inched higher to lift the index. 

Stocks like Bata, Blue Star, V Guard and TTK Prestige advanced nearly 1% each to led the bull run. Meanwhile, Kajaria Ceramics and Whirlpool also added some marginal gains to the sector. 

However, on the flip side, Rajesh Exports, Amber and Orient Electric were top losers in the sector. Rajesh Exports and Amber tumbled marginally down by 0.34% and 0.47% respectively on the index.

Orient Electric plunges near 1% at Rs321.85 per piece to drag the sector a little.

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