Sensex at fresh 3-yr high; up 11 pts as L&T surges

In choppy trade, the benchmark Sensex today managed to hold its three-year high level by adding just 11 points on buying in capital goods stocks, mainly in Larsen and Toubro, after the company maintained its revenue guidance, amid a firming global trend.
After moving between 20,970.92 and 20,768.99 during the day, the 30-share BSE index ended higher by 11 points or 0.05 per cent at 20,893.89.
The broader National Stock Exchange index Nifty also rose by 15.60 points, or 0.25 per cent, to close at 6,204.95. However, the SX40 index on the MCX Stock Exchange closed lower by 17.5 points at 12,398.86.

Brokers said the trading sentiment was supported by a firm trend in capital goods sector stocks led by Larsen and Toubro, after the company maintained its revenue guidance for this fiscal year.
Market was also boosted by continuing foreign capital fund flows, they added.
Larsen and Toubro stocks surged 6.05 per cent to Rs 925.15.

They said a better trend in the Asian region and higher opening in Europe amid speculation the Federal Reserve will delay stimulus cuts, further supported the uptrend.
Out of the 30 BSE index components, 21 stocks gained, while nine ended with losses. Apart from L&T, major gainers were Reliance Industries, Infosys, Maruti Suzuki, Hindalco, Mahindra and Mahindra, SBI, NTPC and Tata Motors.

Sectorally, the capital goods index gained the most by rising 4.19 per cent, followed by realty index by 2.96 per cent. Metal index rose by 1.74 per cent and power index by 1.09 per cent.