Capital goods stocks lost significant ground today with 16 of the 17 stocks constituting the capital goods index on the BSE trading in negative territory.
Over a one-year period, the capital goods index had shed nearly 28 per cent value, reflecting the negative impact of a host of developments like the interest rate hike, slowdown in infrastructure spending, etc.
The only stock that just managed to be in the green was Pipavav Defence that gained a mere 25 paise at Rs 81.05.The rest of the capital goods index stocks were in the red.
L&T, which has the highest weightage on the capital goods index, shed Rs 31.60 to trade at Rs 1,287.15. BEML was down by Rs 12.85 at Rs 550.55, Bharat Electronics lost Rs 27.40 to trade at Rs 1,505, Siemens shed Rs 10.05 at Rs 819.40 and LMW was down by Rs 11.50 at Rs 1,670.
BHEL slipped to Rs 244.65, a loss of Rs 6.55. The rest of the CG index stocks shed value up to Rs 10 each.
The CG index, which was at 13,779 on April 20, 2011, has slipped to 9,922 now, a loss of about 28 per cent, in just a year.