BSE Capital Goods index hits over 2-month low; L&T down 3%

Thus far in November, L&T has underperformed the market by falling 10 per cent, as compared to a 2 per cent rise in the S&P BSE Sensex.

Shares of capital goods companies were under pressure on Wednesday with the S&P BSE Capital Goods index hitting an over two-month low on concerns of weak outlook due to declining order visibility and execution stress.

At 01:00 pm, the S&P BSE Capital Goods index, the largest loser among sectoral indices, was down 1.8 per cent, as compared to a 0.24 per cent rise in the benchmark S&P BSE Sensex. The capital goods index hit an intra-day low of 17,212, its lowest level since September 20, 2019.

Larsen & Toubro (L&T) and Siemens from the index slipped 3 per