The metal index increase significantly on Tuesday riding on the news that the Chinese government would soon announce a stimulus to revive the world's largest consumer of metals. The positive sentiment helped to pull up the metal scrips.
Last Monday, (February 29) the Union Budget for 2016-17 was tabled and since then the metal index had been showing an upwards movement.
The S&P BSE Metal index increased 126.45 points (1.70%) to close at 7,564.98 on March 8 from the previous closing of 7,438.53. The highs and lows on March 8 were 7,649.81 and 7,506.97 respectively.
Though global markets such as CAC, DAX and FTSE all closed 1-2% down, the Sensex remain marginally up on Tuesday from the previous close.
The Sensex increased 12.75 points (0.05%) to close at 24,659.23.
On March 8, most of the stocks on the S&P BSE Metal closed in the green. The maximum gain was registered by SAIL, with the stock increasing 8.11% to close at Rs 43.3. The maximum loss was registered by JSW Steel, with the stock decreasing 0.56% to close at Rs 1,181.5.
Movement of S&P BSE Metal over the last one year:
Price movement of stocks on S&P BSE Metal on March 8:
Company Name |
Industry |
Last |
Change |
%Chg |
Mkt Cap |
|
|
Price |
|
|
(Rs cr) |
Coal India |
Mining & Minerals |
324.55 |
-0.65 |
-0.2 |
204997.6 |
Hind Zinc |
Metals - Non Ferrous |
174.55 |
1.25 |
0.72 |
73752.94 |
Hindalco |
Aluminium |
83.1 |
3.75 |
4.73 |
17160.03 |
Jindal Steel |
Steel - Sponge Iron |
66.25 |
3.1 |
4.91 |
6061.24 |
JSW Steel |
Steel - Large |
1181.5 |
-6.7 |
-0.56 |
28559.46 |
NALCO |
Aluminium |
38.8 |
1.35 |
3.6 |
9999.69 |
NMDC |
Mining & Minerals |
94.5 |
5.45 |
6.12 |
37466.57 |
SAIL |
Steel - Large |
43.3 |
3.25 |
8.11 |
17885.17 |
Tata Steel |
Steel - Large |
291.85 |
3.5 |
1.21 |
28344.92 |
Vedanta |
Mining & Minerals |
90.3 |
3.05 |
3.5 |
26771.19 |