BSE Consumer discretionary index hits 52-week low; Bata, DMart down over 3%

For consumer retail companies, we expect profit margins to remain under pressure led by higher discounting sales and sub-optimal pick up in revenue, says Antique Stock Broking.

Shares of consumer discretionary companies were under pressure on Tuesday on concerns over lower-than- expected earnings for April-June quarter (Q1FY19), due to a tough macro-economic environment.

Titan Company, Bata India, Jubilant FoodWorks, Asian Paints, Avenue Supermarts (DMart), Symphony, Voltas and Page Industries from the S&P BSE Consumer Discretionary Goods & Services index were down by more than 2 per cent on the BSE.

At 10:56 am, the consumer discretionary index was down 1.4 per cent at 3,397 level, as compared to a 0.57 per cent decline in the benchmark S&P BSE Sensex. The index hit a 52-week low