The BSE Capital Goods index is trading higher by 2% or 385 points in afternoon trade. The index had earlier touched a day's high of 18,620 and a low of 18,265.40.
Larsen & Toubro Ltd
(LT) emerged as the biggest contributor to the index, which was up by 203 points. The stock gained over 2% after the company said it will raise its stake in a subsidiary.
was a top contributor to the index's gain; the stock climbed over 26% after media reports said that the government is planning to cut its stake in the company. The stock has rallied for the second consecutive session.
Other stocks in the sectoral index such as BEL
, Siemens, VGuard, Finolex Cables, ABB and Thermax were the other top contributors.
On the other hand, shares of public sector undertaking have rallied in today’s session led by Bharat Heavy Electricals (BHEL), Hindustan Copper, MMTC
, followed by The New India Assurance Company, MOIL, NBCC (India), NLC India, General Insurance Corporation of India (GIC Re), National Aluminium Company, Steel Authority of India
(SAIL), IFCI and Shipping Corporation of India (SCI) gained in today’s session.
Meanwhile, the Sensex was quoting at 39,248, up 196 points, while the Nifty was at 11,646, up 60 points.