Latest News
-
TCS Vs Infosys Vs Wipro Shares, ADRs, Upcoming Dividends: Which Mega IT Stocks To Buy After Q4 Results? -
SBI Card Launches 3 New Variants of Its Travel Credit Card ‘SBI Card MILES’ -
25% Dividend Record Date: Logistic Stock Nears 1-Year High And It Belongs To Mahindra; Motilal Neutral -
1:10 Split, 26 Dividends: Tata's 26-Year-Old Retail Stock In Focus, Q4, Dividend Ahead; Buy For Target Rs 4200 -
1:5 Split Soon: Rs 2,300 Defence Stock To Split Into Five Shares, Rs 400 Cr Fundraising Too; Hits 52-Week High -
Penny Stock Bags Back-To-Back Orders Worth Rs 500 Mn, 110 Mn; Shares Hit Upper Circuit -
Marshall Wace Offloads Stakes in 21 Indian Companies for Rs 2,365 Crore -
Rishi Sunak Announces Generational Hike in UK Defence Spending -
Dr Reddy's Issues Recall for Six Drug Lots in US Over Subpotency Concerns -
Dr Reddy's Voluntarily Recalls Six Drug Lots in US Over Potency Concerns
Nifty Metal Gains 1%; Welspun Corp, Jindal Steel, Adani Enterprises Shine
The Nifty Metals index increased by 1.15 percent to 5,163.75. In the last two sessions, the index has gained 2.27 percent.
The Nifty was trading around 15850, with auto, metal, power, and oil & gas sectors supporting the benchmark indices.
Welspun Corp, Jindal Steel, and Adani Enterprises led the Nifty metal index higher by 1%.
The best firms in this department, according to the rankings, are JSW Steel, Tata Steel, JSPL, SAIL, Tata Steel (PP), APL Apollo Tube, Ratnamani Metal, Mishra Dhatu Nigam Ltd., Tata Steel BSL, and Welspun Corp.
Vedanta, SAIL, and Coal India all increased by more than 1%. NMDC increased by 0.97 percent. JSW Steel and Hindalco gained 0.6 percent and 0.5 percent, respectively. The top underperformer was APL Apollo, which fell by over 1%. MOIL, Ratnamani, and Hindustan Zinc all fell marginally.
Last week, the US dollar benchmark index rose strongly against a basket of currencies as the US Federal Reserve signalled faster-than-expected interest rate hikes and opted for a hawkish posture.
India's metal sector generates a considerable portion of the country's GDP and has established India as a major contender among iron-producing nations.
