Shares of consumer goods companies have firmed up as low inflation levels has increased the buying power of consumers thereby resulting in higher spends.
Retail inflation moved up marginally to 5 per cent in December as prices of some food items, including fruits and vegetables, increased.
The BSE Consumer Durables Index is the top gainer among the sectoral indices up 3.4% at 10,658 after touching an intra-day high of 10,693.
Select jewellery stocks firmed up post encouraging results from Titan.
The Tata Group firm's net profit for the December quarter rose 15% to Rs 191 crore compared to the same quarter last fiscal driven by healthy revenue growth and margin expansion in the jewellery business.
Revenue from jewellery business grew 11% to Rs 2,347 crore during the quarter under review as against Rs 2,111 crore of the same period last fiscal. The stock was up over 7% at Rs 430 while PC Jewellers was up 2% and Thangamayil Jewellery was up 2.3%.
VIP Industries was up nearly 6% ahead of its third quarter earnings tomorrow on the back of heavy volumes. Over 300,000 shares were traded on the BSE against a two-week daily average volume of around 80,000 shares.
Other gainers include, Whirpool, Blue Star, Hawkins Cookers and Videocon Industries were up 0.6-2% each.
