Nifty Metal trades higher amid upbeat markets; Adani Enterprises, Hindustan Copper lead the gains

Vedanta and Tata Steel were also in the fast lane on Thursday. Coal India and Welspun Corp were under pressure.

Oct 07, 2021 01:10 IST India Infoline News Service

Bull run Faster
The Nifty Metal stocks recovered yesterday’s losses to regain winning touch. The Index surged 1% amid upbeat markets on Thursday. Adani Enterprises and Hindustan Copper emerged as the top gainers. Vedanta and Tata Steel were also in the fast lane on Thursday. Coal India and Welspun Corp were under pressure.

The Indices led by bullish realty, auto, and consumer durables stocks build on early gains after a bullish start amid positive global cues. Sensex jumped over 600 points, Nifty surpassed 17,800.

At around 1:10 pm, BSE Sensex was trading at 59,857.82 up 668.09 points or 1.13% and Nifty50 at 17,842.35 up 196.35 points or 1.11%. Nifty Metal was trading at 5,667.35 up 40.00 points or 0.71%, touching a high of 5,705.25 and low of 5,643.80 during intraday trade on Thursday.

Metal stocks entered the week on a bullish note with investors awaiting quarterly results and festive season. However, The Index declined on Wednesday only to recover again, assisted by bullish markets.
Adani Enterprises surged 2.73% at Rs1,520.00 per piece to outperform while Hindustan Copper also rose over 2% at Rs127.60 per piece. Vedanta and Tata Steel also gained nearly 0.9% respectively. NMDC and JSW Steel were over 0.7% higher. National Aluminium, Hindalco, Ratnamani, Jindal Steel also traded in the green. Hindustan Zinc was also marginally higher.

Coal India put a halt to its gaining spree by shedding 0.6% at Rs191.70 per piece. Welspun Corp was also 0.4% lower at Rs145.40 per piece. APL Apollo Tubes and SAIL also traded marginally lower. 

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