Capital goods stocks appear to be weakening with the CG index emerging as the biggest loser on the BSE this morning.
It is true that in terms of losses, it was only two that suffered the most - L&T and LMW.
But 13 of the CG index stocks were down to varying degrees with the overall market itself turning soft.
This has raised questions as to whether any sharp cut in interest rates will be made by the RBI during its forthcoming policy review.
Engineering behemoth L&T was down by Rs 29.25 at Rs 1,320.50 and textile machinery manufacturer Lakshmi Machine Works was down to Rs 1,610, a loss of Rs 27.75.
ABB was trading at Rs 766.30, down by Rs 8.35, BEML shed Rs 7 to Rs 370.65, BHEL slipped by Rs 1.65 to Rs 219, Havells India was trading at Rs 546.60, a loss of Rs 4.60.
Other stocks like Pipavav Defence, Praj Industries, Punj Lloyd, etc., were marginally down.
Only three stocks — BEL trading at Rs 1,265, up by Rs 5.55, Siemens up by Rs 7.55 at Rs 702.20 and Thermax trading at Rs 456, a gain of Rs 2.25, were in the green.
The CG index itself was down by about 121 points.