Nifty Metal stocks ride on bulls amid volatile trade; Coal India, Ratnamani, Tata Steel among top performers

18 Feb 2022 , 12:05 PM

Nifty Metal led the gains amid volatile trade on Friday. The Index surged over 0.75% to uplift the overall market performance, before trimming minor gains. Coal India and Ratnamani Metals & Tubes led the gains while Tata Steel was also among the top performers on Friday. NMDC emerged as the top loser.

Indian equities were volatile on Friday as investors assessed geopolitical risks. Asian stocks pared losses from earlier on the hope of a diplomatic solution to the Ukraine crisis.

At around 12.05 pm, BSE Sensex was trading at 57,987.76 up 95.75 points or 0.17% and Nifty50 at 17,331.80 up 27.20 points or 0.16%. Nifty Metal was trading at 5,822.40 up 29.00 points or 0.50, touching a high of 5,844.40 and low of 5,761.25 during intraday trade on Friday.

Coal India on Friday announced that the company as on February 16, 2022 has already raced ahead of the total coal despatch of FY21. The company has supplied 575 MTs of coal during this period bettering the annual despatch of 574.5 MTs in financial year 2021. The company stock was 2.55% higher at Rs167.20 per piece.

Ratnamani led the cetorial gains at Rs2,169.70 per piece, up 2.67%. Tata Steel gained over 1% before trimming gains to 0.71% at Rs1,199.40 per piece. Adani Enterprises climbed 0.75% higher. Hindalco (up 0.6%) and Jindal Steel & Power (up 0.55%) were also trading higher.

NMDC was 1.07% lower at Rs143.10 per piece. National Aluminium also was 0.5% on the downside. SAIL and APL Apollo Tubes were also trading in the red while Vedanata, Welspun Corp and JSW Steel were trading flat.