Consumer durables shares was the top loser on the BSE, down 1.6%, after high inflation for the past few months has led to lower spends on consumer durables.
As per the data released today, retail inflation remained in double digit for the third straight month in February.
Retail inflation moved up for the fifth consecutive month to 10.91% in February -- remaining in the double-digit terrain for third month in a row -- on account of higher prices of vegetables, edible oil, cereals and protein-based items.
It was 10.79% in January. The inflation crossed doubled digit mark in December at 10.56%, against 9.90% in November
"Persistent high inflation over a long period of time has led to slowdown in consumer discretionary spends," said Phani Shekar, Fund Manager - PMS at Angel Broking.
Whirpool is our preferred stock in the consumer durables space, he said.
Among the stocks in the index, Bajaj Electricals, Blue Star and Titan were down over 2.5% each, while VIP Industries and Gitanjali Gems were down 1.1% each. Whirpool was marginally down by 0.5%.
