Nifty Metal index rallied 1% today denying market volatility on Wednesday. Hindustan Zinc, APL Apollo, Jindal Steel outperformed to boost the sector.
At around 10:45 AM, BSE Sensex was trading at 60,874.79 up 219.07 points or 0.36% and Nifty50 at 18,111 up 157.70 points or 0.32%. Nifty Metal was trading at 6,846.10 up 52.60 points or 0.77%, touching a high of 6,884.40 and low of 6,806.55 during intraday trade on Wednesday.
Hindustan Zinc soared nearly 4% and was trading at Rs360.85 per share.
Heavyweight APL Apollo Tubes pushed up the sector, gaining nearly 3.5% at Rs1,183 per share.
Jindal Steel and Tata Steel were also bullish, trading 2.1% and 2% higher respectively. Hindalco and SAIL also rose 1.8% each. Vedanta (up 1.56%) and JSL (up 1.5%) also lifted the performance.
Further, JSW Steel, MOIL, National Aluminium, Hindustan Copper and Welspun Corp also contributed to the sector and traded between 0.2-1%.
Adani Enterprises was under pressure, shedding 1.5% while Ratnamani Metals and Tubes was also marginally lower.
Key Q3 to watch out so far this month would be Hindustan Zinc that will announce its earnings on January 19, while JSW Steel is scheduled on January 20, 2023.
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