Nifty Metal Index Outlier Amid Rebound In Trade

Even as the Nomura report says India is likely to be the worst loser due to the ongoing tensions between Ukraine and Russia, for now the Indian markets have recovered ground. At the time of writing this copy at around 2:29 pm, Nifty has been up 455, partially recovering previous day's hefty losses, signalling that for now the markets have looked past the ongoing Ukraine-Russia crisis.

Nifty Metal Index Outlier Amid Rebound In Trade

Among Nifty sectoral indices, Nifty metal has emerged as the outlier owing to the surge in the prices of commodity as supply disruption is feared. Nifty metal has been the clear cut winner in today's session with gains of 5.59%.

All of the 15 stocks from the Nifty metal space have made a run with constituents including APL Apollo Tubes, Jindal Steel, Coal India, Hindustan Copper, SAIL, Vedanta, Tata Steel, Welspun Corp all trading with gains between 5-7.5%.

There is a view that buying in frontline stocks as well as a sense of relief due to an array of strong sanctions against Russia have helped the indices have a rock-solid session today.

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