Nifty Metal trades higher amidst bearish sentiment of the market

SAIL, Welspun Coorp Limited and NMDC are trading 1% higher to support the sector.

Nov 26, 2020 06:11 IST India Infoline News Service

Nifty Metal stocks are higher amid the volatile trade on Thursday. SAILWelspun Coorp Limited and NMDC are trading 1% higher to support the sector. 

The Metal Index started on bullish note but lost steam as the morning session progressed. However, it has picked steam now, and at around 11.45 am, the sector was trading at 2,824.25 up 7.70 points or 0.27% after opening at 2,829.00 and touching a high of 2,839.20 and low of 2,804.30.

SAIL led the gains at Rs43.85 up Rs0.80  or 1.86%. Welspun Corp (1.61%) and NMDC (0.97%) also were among the big gainers. 
Hindalco and APL Apollo were struggling in the red zone. 

Metal stocks have been among the gainers in recent times due to  various stimulus packages announced throughout the world post the Covid-19 lockdown.

The overall sentiment of the market was bearish. BSE Sensex was trading at 43,727.08 down 101.02 points or 0.23% and Nifty50 at 12,834.25 down 24.15 points or 0.19% (11.50 IST).

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