2 Mar 2022 , 12:51 PM
Coal India rose 7% on monthly sales data to lead the performance while Hindalco hit a fresh 52-week high of Rs614.25 per piece on Wednesday. Tata Steel, Jindal Steel & Power, and Hindustan Zinc also advanced over 5%.
Indian equity benchmarks suffered deep losses after a gap-down start on Wednesday, as the market returned to trade after a day’s holiday. Geopolitical tensions escalated as Russia further advanced its invasion of Ukraine that began last week. Crude oil prices surged more than 7% to their highest since 2014. Losses in financial and auto stocks pulled the headline indices lower, though gains in oil & gas and metal shares lent some support.
BSE Sensex was trading at 55,204.04 down 1043.24 points or 1.85% and Nifty50 at 16,526.10 down 267.80 points or 1.59%. Nifty metal was trading at 6,123.95 up 227.10 points or 3.85% touching a high of 6,173.10 and low of 5,897.20 during intraday trade on Wednesday.
Tata Steel (up 5.18%), Jindal Steel (up 5.11%) and Hindustan Zinc (up 5.05%) also lifted the sectorial performance to continue winning streak.
Welspun Corp, NMDC and NALCO also rose around 4% while Vedanta and SAIL was around 3% higher.
Ratnamani Metals & Tubes and APL Apollo Tubes sank over 1% each to drag the sector.
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