Tag: metal index

On Monday(20th Sept.2021) metal shares witnessed their biggest meltdown in recent times as a debt crisis at one of China’s biggest property developers, Evergrande, led to a global decline in industrial metals and ore prices. The BSE Metal index tumbled nearly 7 percent in trade in the last session. Naturally, the question arises that Should you enter the stocks at current levels or wait for them to turn cheaper? Tech charts suggest the latter seems to be a better option. Read more

Indian stocks tanked today (20th August 2021) following their global peers as the fear of earlier-than-expected Fed tapering set off a selling spree. Barring select names in the IT sector, all sectoral indices traded in the red. Metals were among the worst hit as they also dealt with plunging iron ore and other metal futures prices. India VIX, barometer of volatility, surged nearly The 30-share Sensex index declined 300 points, or 0.4 percent, and closed at 55,329 levels on Friday while the Nifty50 index ended at 16,451 levels, down 118 points or 0.7 percent. Both the indices had hit intra-day lows of 55,014 and 16,376, respectively, earlier today(20th August 2021). Read more

The metal index has risen 10 percent in the last five trading sessions, compared with a 0.3 percent decline in the Sensex. The performance of metal stocks has been impressive since the outbreak of Covid-19. Tata Steel has been a prime beneficiary of investors’ renewed interest in metal stocks. The steel major’s share price has risen 18 percent over the past week and it has added nearly Rs 27,000 crore to its market capitalisation. The company was among the top-performing large-cap stocks on Thursday and closed with gains of 6.9 percent. Hindalco was, however, the top index gainer on Thursday and was up 10.2 percent. Read more