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Capital goods shares in limelight

MUMBAI: A sharp rally in capital goods counters propelled the benchmark Sensex above the 15700 level as the bull run in the market continued for the fourth successive session on Monday.

Capital goods counters such as BHEL, L&T, ABB, Areva, Suzlon Energy, AIA Engg, Alstom Project and Kalpataru Power closed with sharp gains.

There was virtually a mad rush for infrastructure stocks, sparked by the Finance Minister P Chidambaram’s statement that enough funds are available with the Government for infrastructure sector, road constructions, power plants and ports, lifting the segment index by a record 526.12 points.

The Bombay Stock Exchange 30-share sensitive index, Sensex, opened barely steady at 15560.57 and dipped to a low of 15477.91.

However, sustained buying by foreign institutional investors pushed the Sensex up to an all-time high of 15773.37 before concluding the day at 15732.20, a net rise of 166.65 points. Similarly, the S&P CNX Nifty spurted by 53.30 points to close at 4619.35 from the previous close of 4566.05. — PTI

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