Nifty Consumer Durables dives over 200 pts; Heavyweights Titan, TTK Prestige worst hit post Q2 earnings

Titan dived over 2% despite its Q2 net profit rises by 200% at Rs641cr.

Oct 28, 2021 10:10 IST India Infoline News Service

Bear Market
Consumer durable stocks were on a bearish bandwagon dragging the broader markets on Thursday as heavyweight stocks witnessed sharp profit booking. The index has extended its downside ahead of major corporate earnings and the festive season which continues to sway markets outlook in this sector. The Nifty Consumer Durables index has hovered between an intraday high and low of 28,754.95 and 28,247.25 respectively. The sector has 8 scrips on the green zone whereas 7 scrips were on a declining state.
At around 10:35 AM, Nifty Consumer Durables was trading at 28,414.60 lower by 222.20 points or 0.78%.

TTK Prestige nosedives over 2.5% to emerge as the top bear post strong Q2 earnings. The index major's profit jumps 58% yoy while board also approved 10:1 stocksplit for the company. 

Titan dived over 2% despite its Q2 net profit rises by 200% at Rs641cr as jewellery demand recovers in the segment while Dixon Tech also plunged nearly 1.5%. VGuard and Relaxo tumbled by 0.74% and 0.67% respectively.

Bata India and Rajesh Exports were also marginally down to drag the sector while other 8 scrips were on the upside to support the index a little.

However, stocks like Kajaria Ceramics, Havells, Voltas and Orient Electric added marginal gains to the sector while Blue Star, Amber, Crompton Greaves climber around 1%-1.5% each. Whirlpool being the top gainer advances 1.60% at Rs2,243.25 per piece in the sector.

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