Nifty Consumer Durables lead markets bull; Voltas hits fresh 52-week high; V-Guard, Whirlpool add to gains

V-Guard and Whirlpool were outperformed in the Nifty Consumer Durable index, while Crompton drags the most.

Sep 07, 2021 02:09 IST India Infoline News Service

Bull run Faster
The Nifty Consumer Durables carried forward the winning streak on Tuesday by surging 1% and lead the bull markets. Voltas hit fresh 52-week high to lead the gains while V-Guard also outperformed. Whirlpool also was in the fast lane. Crompton Greaves Consumer Durables dragged the most.

The sector has been in focus in the past due to foreign investments. Rapid changes in the sector which include Government push to encourage domestic manufacturing, changing customer preferences, and channel proliferation.

Sensex claimed a fresh all-time high at 58,533, Nifty touches 17,436 for the first time ever. At around 2.10 PM, BSE Sensex was trading at 58,474.98 up 178.07 points or 0.31% and Nifty50 at 17,412.15 up 34.35 points or 0.2%.

The Nifty Consumer Durables was trading at 26,494.05 up 265.65 points or 1.01%, after touching a high of 26,533.65 and low of 26,238.55 during intraday trade.

Voltas jumped 6.3% to Rs1,193.70, extending its winning run to eighth consecutive trading session. It touched a new 52-week high of Rs1200 per piece on Tuesday. The stock has rallied 25% during this period on an expectation of demand recovery ahead of the festive season and short summer in West India.

V-Guard Industries Limited rose 3.8% at Rs263.90 per piece. The company has made a further investment to the extent of Rs5cr in V-Guard Consumer Products Limited (VCPL) and has been allotted 50,00,000 equity shares on 10/- each in September 6, 2021.

Whirlpool also gained 3.4% at Rs2,257.70 per piece to lif the performance. Bluestar also gained 1.8% while Havells and Rajesh Exports were also 1% higher. While, Crompton dragged the most at Rs477.70 per piece, down 1.5%. Bata India and Relaxo were also under pressure. 

Out of 15 stocks, Nifty Consumer Durables had 9 advances and 6 declines. 

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