Market Now: Capital goods stocks on a shaky pitch; BEML, CG Power fall up to 3%


NEW DELHI: A majority of capital goods stocks were suffering losses during afternoon trade on Friday.

Shares of BEML, CG Power and Industrial Solutions, Graphite India, Sadbhav Engineering, Suzlon Energy and V-Guard Industries plunged up to 3 per cent in Friday’s trade.

The BSE Capital Goods index was trading 1.58 per cent down at 18,717 around 1 pm.

Larsen & Toubro, Havells India, Bharat Electronics, Thermax, Kalpataru Power Transmissions, Siemens, BHEL and SKF India declined over 1 per cent.

Index components Lakshmi Machine Works, Finolex Cables, NBCC (India), Welspun Corp, Carborundum Universal, ABB India and AIA Engineering were also under pressure.

Meanwhile, shares of Reliance Naval and Engineering and Mahindra CIE Automotive jumped up to 3 per cent.

GE T&D India, Schaeffler India and Va Tech Wabag were also in the green around that time.

Equity benchmarks were in the negative territory on unabated foreign fund outflows and surging global crude oil prices.

Benchmark BSE Sensex was 169 points down at 34,980, while the NSE Nifty50 index was down 51 points at 10,632.

In the Sensex index, 8 stocks were advancing, while 23 were declining.

Tata motors, Adani Ports, Sun Pharma, ICICI Bank and Wipro cracked over 2 per cent in the Sensex index.

Source: Economic Times