Leading the pack were Bharat Heavy Electricals whose shares jumped 3.34%, while other notable gainers included Siemens, Crompton Greaves and Voltas.

Capital goods stocks have over the last one year underperformed the markets, thanks to a slowdown and sluggish demand across products. Worst affected have been those catering to the power sector, as a slowdown of the sector has affected growth.

Analysts are not sure if the growth rate recorded by the sector for the month of July would be sustainable or this is merely a flash in the pan.

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