A maturing market amid the mayhem
Metal stocks shine
The BSE metal index rallied over 4 percent on Wednesday, with JSW Steel topping the index with gains of over 8 percent. The BSE Sensex jumped over 300 points to 16,496.
Sterlite Industries gained nearly 6 percent and Hindalco ended up 3.3 percent, buoyed by a rise in base metal prices. Tata Steel shares gained 4. 9 percent.
All stocks in the index, except Maharashtra Seamless, closed with decent gains.
The metal index has posted a near 8 percent fall since mid-January and stocks like Sterlite Industries and Tata Steel have dropped over 10 percent and 7 percent respectively.
Do you think these stocks will gain in the near future?