After a bleeding Monday the metal index improved a bit. Experts explained that the upward movement is natural because the fall on Monday was severe.
However, Pritesh Jain of Religare Capital Markets said the uptrend in the metals sector won't last and the rally in stocks of HINDALCO, Tata Steel and JSW Steel has peaked out. These metal stock have become expensive now.
The S&P BSE Metal index increased 29.39 points (0.40%) to close at 7,373.17 on March 29 from the previous closing of 7,343.78. The highs and lows on March 29 were 7,442.32 and 7,327.48 respectively.
Global markets such as DAX and FTSE all were trading marginal down. Following the same trend, the Sensex also came down.
The Sensex decreased 65.94 points (0.26%) to close at 24,900.46.
On March 29, all the stocks on the S&P BSE Metal closed in the green. The maximum gain was registered by Tata Steel, with the stock decreasing 1.28% to close at Rs 303.9. The maximum loss was registered by Jindal Steel, with the stock, decreasing 7.22% to close at Rs 55.9.
Movement of S&P BSE Metal over the last one year:
Price movement of stocks on S&P BSE Metal on March 28:
Company Name |
Industry |
Last |
Change |
%Chg |
Mkt Cap |
|
|
Price |
|
|
(Rs cr) |
Coal India |
Mining & Minerals |
294.7 |
1.15 |
0.39 |
186143.3 |
Hind Zinc |
Metals - Non Ferrous |
169.8 |
1.95 |
1.16 |
71745.92 |
Hindalco |
Aluminium |
84.4 |
1.05 |
1.26 |
17428.48 |
Jindal Steel |
Steel - Sponge Iron |
55.9 |
-4.35 |
-7.22 |
5114.31 |
JSW Steel |
Steel - Large |
1233.15 |
5.45 |
0.44 |
29807.95 |
NALCO |
Aluminium |
37.3 |
-0.15 |
-0.4 |
9613.1 |
NMDC |
Mining & Minerals |
99.2 |
0.85 |
0.86 |
39329.98 |
SAIL |
Steel - Large |
41.9 |
-0.6 |
-1.41 |
17306.9 |
Tata Steel |
Steel - Large |
303.9 |
3.85 |
1.28 |
29515.24 |
Vedanta |
Mining & Minerals |
87.65 |
-0.4 |
-0.45 |
25985.55 |