S&P BSE METAL closed at 6661.68 on January 22, up 275.57 points (4.32%) from the previous close of 6386.11. The Sensex also closed at 473.45 Points up at 24435.66. The overall market sentiment and the perceptions about metals were positive.
As China planned to shut down overcapacity steel companies, it was a big relief for the domestic steel manufacturers. Today, all the underlying stocks of the metal index grew up. Tata Steel, SAIL and JSW Steel increased 5.35%, 4.1% and 3.68% respectively. Analysts expect that the the metal stocks can go further in this rally.
Today the market opened at 6458.40 and then moved in the upward direction. The day’s high and low were at 6677.93 and 6452.99 respectively.
The performance of underlying stocks of S&P BSE METAL on January 22
Company Name |
Industry |
Last |
Change |
%Chg |
Mkt Cap |
|
|
Price |
|
|
(Rs cr) |
Coal India |
Mining & Minerals |
299.95 |
11.65 |
4.04 |
189459.35 |
Hind Zinc |
Metals - Non Ferrous |
145.45 |
4.25 |
3.01 |
61457.26 |
Hindalco |
Aluminium |
72.35 |
4.05 |
5.93 |
14940.17 |
Jindal Steel |
Steel - Sponge Iron |
65.95 |
3.2 |
5.1 |
6033.79 |
JSW Steel |
Steel - Large |
1066.15 |
37.8 |
3.68 |
25771.2 |
NALCO |
Aluminium |
34.35 |
0.25 |
0.73 |
8852.81 |
NMDC |
Mining & Minerals |
80.35 |
3.5 |
4.55 |
31856.49 |
SAIL |
Steel - Large |
43.15 |
1.7 |
4.1 |
17823.22 |
Tata Steel |
Steel - Large |
247.1 |
12.55 |
5.35 |
23998.73 |
Vedanta |
Mining & Minerals |
64.75 |
2.25 |
3.6 |
19196.4 |
Source: India Steel Market Watch