Nifty Consumer Durables erases early gains, index sheds over 150 pts; Dixon, Voltas, Whirlpool, TTK Prestige drag

In the early deals of today, the index recovered some of the losses from the past few days and even advanced by at least 2%.

Oct 22, 2021 02:10 IST India Infoline News Service

Bear Market
Nifty Consumer Durables erased its early super rally and was trading on a bearish tone during the second half of Friday's trading session due to a broad-based selloff ahead of major Q2 earnings. In the early deals of today, the index recovered some of the losses from the past few days and even advanced by at least 2%. However, investors turned cautious in late deals.

At around 2.27 pm, Nifty Consumer Durables was trading at 28,199.05 lower by 152.75 points or 0.5%. The index was near the day's low of 28,112.85. On the index, at the current level, 5 scrips advanced while 10 scrips have declined.

During the early trade, the index soared to an intraday high of 28,866 before correcting.

Dixon Tech and VGuard were top bears nosediving by nearly 3% each, while Whirlpool, Voltas and TTK Prestige slipped more than 2% each. Orient Electric dipped 1.8%.

Bata India and Kajaria Ceramics shed 1.5% each. Havells India and Crompton Greaves dropped nearly 1% each.

On the positive front, Relaxo was the top gainer soaring nearly 2% followed by Blue Star and Amber advancing more than 1% each. Titan and Rajesh Exports surged 0.6% and 0.5% respectively.

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

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.

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