Nifty Metal outperforms by 2%; Adani Enterprises, Hindalco, APL Apollo star performers

MOIL was the top laggard of the index tumbling marginally down by 0.3% at Rs155.45 per piece.

Apr 16, 2021 11:04 IST India Infoline News Service

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Nifty Metal index emerged as the top bull on the exchange during Friday's trading session lifting Nifty 50 as investors focus has shifted on quarterly results which will be presented by major companies during this month. On Friday trading window, Nifty Metal stock holds strong position with only 2 scrips declining and 13 scrips advancing. 

At around 11:30 AM, Nifty Metal was trading at 4,470.80 up 73.35 points or 1.67%. It touched an intraday high of 4,472.55 and an intraday low of 4,394.50 during early trading hours. 

Heavyweights Adani Enterprises, Hindalco, Tata Steel, APL Apollo Tubes extended the sharp rally during mid-session of trade.

Adani Enterprises being the top outperformer on the index surging by 3.4% at Rs1,168.45 per piece. Recently, Adani Road Transport Limited, a Wholly Owned Subsidiary of the Adani Enterprises, has incorporated a subsidiary company namely, “Panagarh Palsit Road Private Limited (“PPRPL”).

Hindalco and NALCO jumped by 2.5% each. While Vedanta, APL Apollo Tubes and NMDC zoomed nearly 2% each.

Accordingly, gainers list on Nifty Auto was led by Tata Steel surging by 1.4% followed by Jindal Steel up 1.3%. Nearly 1% rise each was recorded in Hindustan Zinc, SAIL and Coal India.

JSW Steel and Welspun Corp were trading marginally up on the index.

On the contrary, MOIL was the top laggard of the index tumbling marginally down by 0.3% at Rs155.45 per piece.

Ratnamani also shed 0.2% at Rs1,930.05 per piece.

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