Sensex recovers most of day’s losses, Nifty50 flat. At around 2.00 pm, BSE Sensex was trading at 58,235.67 down 69.4 points or 0.12% and Nifty50 at 17,362.35 down 6.90 points or 0.04%. Nifty Metal was trading at 5,816.30 up 51.15 points or 0.89% touching a high of 5,830.65 and low of 5,769.10 during intraday trade on Monday.
Coal India rose over 4% at Rs154.70 per piece on reports that the company might raise prices of the dry fuel by at least 10-11% to mitigate the impact of increased costs and an impending wage revision.
Heavyweight Hindalco also surged 3.3% Rs478.80 per piece to push up the sector.
Nalco rose 3% at Rs100.90 per piece. The company is making efforts to operationalize the Utkal D coal mine in Odisha in FY23.
Vedanta (up 1.82%) and Ratnamani (up 1.14%) were also bullish. Jindal Steel, JSW Steel and Hindustan Zinc was also higher. Tata Steel was trading flat.
SAIL shed 1.9% at Rs119.90 per piece to drag the most. Welspun Corp Limited and APL Apollo was also were over 1.5% lower. Adani Enterprises was also 1.1% on the downside. NMDC and MOIL were also 0.7% lower.