 "Shopping")
Retail and consumption related stocks were exhibiting strong trends on Wednesday, even as benchmark indices languished in the red amid tepid global mood. Shoppers Stop, Sapphire Foods India, and Trent advanced up to 2.5 per cent in intra-day trade, while Westlife Development, and Avenue Supermarts held decent gains.
According to analysts at ICICI Direct, retail sector appears to be on the cusp of delivering strong sustained revenue growth driven by improved consumer sentiment, wardrobe refresh, and increased spend on discretionary purchases.
"Multiple levers like business scenario normalisation and improvement in consumer sentiments are expected to buoy demand despite inflationary challenges in the near-term," they said in a report dated June 26.
