JSW Steel, Adani Enterprises Hit Fresh Lifetime High From Nifty Metal

It has been the first day of markets being trading soft, though with a tad loss with Nifty up by a tad and holding just below 17200. For the week analysts expected, Nifty to trade rangebound and show consolidation. Infact the host of headwinds have been responsible for the bearish momentum.

Bank Nifty too is trading weak, while the broader markets Nifty Midcap 100 is up by a tad of over 0.57%. Among Nifty sectoral indices, there is weakness once again in the IT pack, while other sectors in the red are the financial services, private bank index and realty with all the others in the green.

Nifty Metal is the most resilient with gains to the tune of 1.63% and on a YTD basis because of the increase in the commodity and metal prices given the Ukraine-Russia war the returns are 22.47%.

Of the 15 stock index, JSW Steel and Adani Enterprises have hit their fresh 52-week high today. Infact for Adani Enterprises and JSW Steel it is their life time high price.

Others from the pack trading close to their 52 week high are Vedanta, Welspun and Ratnamani Metals.