Nifty Metal pares early gains, trades flat; Welspun Corp, MOIL surge 5-6%; Adani Enterprises top laggard

Base metal prices globally were trading mixed after the US jobs numbers come less than expected which reduces the threat of rising yields.

Jun 07, 2021 02:06 IST India Infoline News Service

Bull and Bear
Metal company stocks pared their early gains and the sectoral index broadly traded on a flat note after RBI's monetary policy. Base metal prices globally were trading mixed after the US jobs numbers come less than expected which reduces the threat of rising yields. Monthly production data also kept bears off the sector.

At around 2.34 pm, Nifty Metal was trading at 5,340.35 flat compared to the previous closing of 5,339.15. The index has clocked an intraday high and low of 5,421.50 and 5,322.60 respectively.

Welspun Corp was the top gainer surging nearly 6% followed by MOIL climbing 5%. NALCO and JSPL soared over 3% and 2% respectively.

Stocks like APL Apollo, Coal India and Hindustan Zinc jumped between 1.5-2%. Ratnamani and Tata Steel advanced more than 1% each.

SAIL and Hindalco surged by 0.8% and 0.3% respectively.

JSPL traded flat.

Adani Enterprises was the top underperformer slipping 5% followed by NMDC weakening by 4%. Vedanta marginally down. 

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