Even as the BSE Sensex was struggling to remain in positive territory, the Capital Goods index of the BSE soared 230 points this morning.
The overall market was buffeted by negative developments such as the Euro Zone crisis, JP Morgan issue in the US and the weak Asian markets.
The surge in Capital Goods stocks could be attributed to index heavyweight L&T.
Post-results, L&T, which enjoys 54.93 per cent weight in the index, was up Rs 55.20 at Rs 1,215.
SKF India was trading at Rs 670, a gain of Rs 20.55, and Siemens edged up Rs 5.10 to Rs 717.
BHEL, at Rs 218, was up by Rs 1.15.
But the gains of BEML, at Rs 505.30, was just by 15 paise and BEL was down by Rs 8.15 at Rs 1,356.15.
Of the 15 Capital Goods index stocks, 9 were down.