Nifty Metal picks up pace as metal prices broadly rise globally; Index jumps 119 pts; NALCO, Adani Enterprises top gainers

The index has touched an intraday high and low of 5,216.30 and 5,036.25 respectively.

May 17, 2021 02:05 IST India Infoline News Service

After witnessing a slightly bearish tone in the early trading sessions, metal company stocks picked up momentum during the second half led by broad-based buying and a rise in base metal prices globally. Base metals in Shanghai rose mostly, while counterparts in the London exchange saw a mixed start earlier today.

At around 2.39 pm, Nifty Metal was trading at 5,210.60 up by 119.25 points or 2.34%. The index has touched an intraday high and low of 5,216.30 and 5,036.25 respectively.

NALCO was the top gainer soaring by nearly 6% followed by Adani Enterprises surging 5.4%. Ratnamani climbed by 4.8%, while JSPL jumped by 4%.

SAIL surged by 3%, while APL Apollo and Hindalco advanced by 2.5% and 2.4% respectively. Tata Steel jumped by 2%.

JSW Steel and Vedanta strengthened by 1.9% each, while MOIL was up by 1.8%.

Hindustan Zinc and NMDC was higher by 1.5% and 1.1%.

However, Welspun Corp and Coal India plunged marginally and were underperformers of the index. 

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