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Capital goods index drops 5 pct

January 21, 2010

The BSE Capital goods index witnessed a sharp drop over 5 percent on Thursday as top stocks like Larsen & Toubro (L&T) slumped 6.8 percent after results.

Shares in L&T, which announced its quarterly numbers, closed at 1524 rupees after losing 112 rupees after it reported its quarterly sales dropped 6.1 percent. It also ended as the top Sensex loser.

Havells India ended as the top loser in the index, slipping 7.6 percent. Gammon India dropped 6.7 percent. Only three stocks in the index managed to close in green.

L&T shares have dropped over 9 percent in 2010, far higher than the 4.3 percent fall in the capital goods index.

Would you take advantage of the fall and pick a stock from this sector?

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