Nifty Consumer Durables tops 230 pts as heavyweights lift the index; Dixon, Titan, Havells, Amber top bulls

9 Feb 2022 , 10:40 AM

Consumer Durables index outperformed on Wednesday driven by broad-based buying in heavyweight stocks. The sector was among the top gainer on the markets today with banking, auto and IT stocks. The Nifty Consumer Durables index has soared around 1% in the early trade so far. Positive broader markets further lifted the sentiments.

As per reports, Consumer durables sector is expected to increase operational margins, revenue in 2022.

Meanwhile, Consumer Durables makers have recovered faster than other sectors ahead of corporate earnings of the season. It is being said that volatility will continue in the equity markets due to the inflationary pressure, price hikes and RBI’s monetary policy but the growth momentum in the sectors is expected to accelerate this fiscal on positive numbers.

At around 10:35 AM, Nifty Consumer Durables was trading at 27,857.15 up 232.10 points or 0.84% on Wednesday.

In terms of gains, the index lead the charts by heavyweights Dixon, Titan, TTK Prestige, Havells, Voltas on broad-based buying sentiments.

Dixon Tech surged over 2.3% at Rs4,415.05 per piece to lead the bulls while Titan, Havells and TTK Prestige followed with 1% gain each. Crompton Greaves and Voltas also drive the performance by surging around 1% each.

Stocks like Amber (+0.74%), Relaxo (+0.30%), V Guard(+0.18%) contributed the sector to led the bull run while Blue Star and Whirlpool were doing well by adding marginal gains to the sector.

However, on the flip side, Orient Electric emerged as top losers, tumbling with marginal losses while Rajesh Exports and Bata India were under pressure as well on the index.