Moneycontrol India :: News :: CG Index down 12.6% this week; BHEL,L&T among top losers :: Bharat Heavy Electricals :: Market Edge

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Moneycontrol India :: News :: CG Index down 12.6% this week; BHEL,L&T among top losers :: Bharat Heavy Electricals :: Market Edge :: Sensex,BHEL,Siemens

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CG Index down 12.6% this week; BHEL,L&T among top losers

2008-04-04 16:01:04 Source : moneycontrol.com

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After seeing a huge rally capital good stocks are witnessing some serious selling on the bourses. Inflation for week ended March 22 at 7% Vs 6.68%, which is at 3-year high. Ahead of the results some analyst are expecting earnings to go down a bit. Raw material prices like steel have remained firm which will impact the margins negatively. Infrastructure numbers have indicated some weakness with index of industrial production (IIP) figures stood 5.3% in January as against 11.6% a year ago.

Sensex during the week was down 6.2%, Nifty down 5.9%. CNX Midcap Index down 3.6%, BSE Small Cap Index down 2.3%

BSE Cap Goods Index was down 12.6% this week, with frontliner stocks taking hit on the chin. BHEL was among the top looser down 22%, followed by L&T down by 15% and Siemens following them down10%. Adding to weak inflation and IIP numbers, Minerals WPI was up 38.2% for week ended March 22 with Metallic Minerals WPI up by 42.8% for week ended March 22 leading to sell off rally among the sector and making it worst performing sector during the week.