The metal index reacted positively on Wednesday as the Government of India has issued notices to China Japan and Korea to initiate a probe on steel dumping.
A positive sentiment has created in anticipation of restricted imports and expansion of domestic steel business, as per the stock market experts. On April 5, metal index decreased 211 points as a result of poor credit ratings of steel companies.
The S&P BSE Metal index increased 170.03 points (2.33%) to close at 7470.10 on April 6 from the previous closing of 7,300.07. The highs and lows on April 6 were 7,524.04 and 7323.16 respectively.
Global markets such as CAC, and FTSE and the domestic index, the Sensex, all were marginally up.
The Sensex increased 17.04 points (0.07%) to close at 24900.63.
On April 6, most of the stock on the S&P BSE Metal closed in the green. The maximum gain was registered by Tata Steel, with the stock increasing 5.24% to close at Rs 328.45.The maximum loss was registered by Hind Zinc, with the stock decreasing -13.37% to close at Rs 162.05.
Price movement of stocks on S&P BSE Metal on April 6:
Company Name |
Industry |
Last |
Change |
%Chg |
Mkt Cap |
|
|
Price |
|
|
(Rs cr) |
Coal India |
Mining & Minerals |
275.75 |
-0.35 |
-0.13 |
174173.8 |
Hind Zinc |
Metals - Non Ferrous |
162.05 |
-25 |
-13.37 |
68471.29 |
Hindalco |
Aluminium |
88.95 |
4.05 |
4.77 |
18368.05 |
Jindal Steel |
Steel - Sponge Iron |
62 |
1.9 |
3.16 |
5672.4 |
JSW Steel |
Steel - Large |
1292.05 |
35.45 |
2.82 |
31231.7 |
NALCO |
Aluminium |
38.25 |
0.1 |
0.26 |
9857.94 |
NMDC |
Mining & Minerals |
101.55 |
3.8 |
3.89 |
40261.69 |
SAIL |
Steel - Large |
43.2 |
0.75 |
1.77 |
17843.87 |
Tata Steel |
Steel - Large |
328.45 |
16.35 |
5.24 |
31899.57 |
Vedanta |
Mining & Minerals |
87.5 |
1.65 |
1.92 |
25941.07 |