Nifty Metal index outperforms; SAIL, Jindal Steel stocks shine

Coal India, NMDC, MOIL, Hindalco and NALCO were also up over in the range of 1-2%, respectively.

Aug 11, 2020 11:08 IST India Infoline News Service

Market at higher point1
Shares of metal companies surged on Tuesday led by gains in SAIL, Hindustan Copper, Jindal Steel and Hindustan Zinc. The Nifty Metal index surged over 2.5%, being the top sectoral gainer on the NSE.

Among constituents, SAIL rose as much as 6% in intra-day deals, while Hindustan Copper and JSPL rose above 5%. JSW Steel, Tata Steel, Welspun Corp and NALCO also climbed over 3%, Coal India, NMDC, MOIL, Hindalco and NALCO were also up over in the range of 1-2%, respectively.

Following a strong trend in Asian stock markets, domestic markets gained nearly a per cent on Tuesday with the Sensex jumped to hit day’s high of 38,550, while Nifty50 touched 11,373.60 in early trade. Out of 50 stocks traded on the NSE, 35 advanced and 15 declined.

ITC, ZEEL, JSW Steel, Tata Steel and Hindalco are the top gainers, while Shree Cement, Titan, UPL, Bharti Infratel and Cipla are the top losers on the NSE.

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