For the second consecutive day, all the metals stocks registered gains on February 5.
Even though Tata steel and JSW steel posted net losses in the third quarter, the stocks gained 3.47% and 2.83%, respectively.
Stock Market Analysts like Kunal Bothra, Head advisory at LKP shares, advised to go for long in Tata Steel. This is so because the market has already factored in Q3 result. As the market is expecting Minimum Import Price (MIP) to be introduced, the metal prices reacted positively.
The S&P BSE Metal index increased 224.65 points (3.37%) to close at 6,898.53 on February 5, compared to the previous closing of 6,673.88. The highs and lows on February 5 were 6,941.72.63 and 6,627.29, respectively.
Global markets such as CAC, DAX and FTSE as well as the Indian Sensex all closed in the green on Friday.
The Sensex gained 278.54 points (1.14%) to close at 24,616.97.
The metal stocks gained some momentum at the market. All of the stocks on the S&P BSE index closed in the green. Jindal Steel was the top gainer as the stock increased 10.44%.
The movement of S&P BSE Metal for the last one year
The price movement of metal stocks on S&P BSE Metal
Company Name |
Industry |
Last |
Change |
%Chg |
Mkt Cap |
|
|
Price |
|
|
(Rs cr) |
Coal India |
Mining & Minerals |
326.2 |
4.75 |
1.48 |
206039.81 |
Hind Zinc |
Metals - Non Ferrous |
168.25 |
6.9 |
4.28 |
71090.99 |
Hindalco |
Aluminium |
71.35 |
2.7 |
3.93 |
13611.32 |
Jindal Steel |
Steel - Sponge Iron |
63.45 |
6 |
10.44 |
5805.06 |
JSW Steel |
Steel - Large |
1039.05 |
28.55 |
2.83 |
25116.13 |
NALCO |
Aluminium |
34.1 |
0.9 |
2.71 |
8788.38 |
NMDC |
Mining & Minerals |
84.6 |
3.5 |
4.32 |
33541.5 |
SAIL |
Steel - Large |
40.85 |
2.35 |
6.1 |
16873.2 |
Tata Steel |
Steel - Large |
234 |
7.85 |
3.47 |
22726.44 |
Vedanta |
Mining & Minerals |
73.85 |
6.1 |
9 |
20183.79 |