Money on the markets

Metal stocks post decent gains

The BSE Metals index gained 1.9 percent on Thursday, with stocks like Hindalco and JSW Steel posting top gains.

Hindalco shares closed 4.8 percent higher at 222.35 rupees, JSW Steel gained 3.5 percent. Jindal Steel and Power ended down 1.8 percent as the top sectoral loser.

Traders said on Thursday the BSE index, among the best performers in emerging markets this year, was likely to stabilise after a bout of profit-taking.

Do you think metal counters would perform well going ahead?

Weak day for metal stocks

The BSE Metals index ended down more than 2 perncent on Wednesday with stocks like Sterlite Industries and Sesa Goa slipping more than 3 percent. Tata Steel fell 2.7 percent.

Such stocks declined as base metals prices fell in London and Shanghai following a sell-off in the international market on Tuesday after China’s first rate rise since 2007.

All stocks in the index closed in red. Do you think it is time to enter this sector?

Metals stocks struggle in trade

Metal counters ended the week on a negative note with the sectoral index slipping 1.18 percent, the worst among all sectors.

Sterlite Industries fell 2.3 percent, as Shanghai copper fell more than 1 percent, following a 3.1-percent tumble in London prices.

Hindustan Zinc was the top sectoral loser with a fall of 3.3 percent. Only two stocks in the index managed to close in the green.

Hindalco and Tata Steel dropped 0.7 percent and 1.6 percent respectively.

The metal index is down more than 2 percent this month, underperforming the Sensex which has gained 3.7 percent.

Would you take advantage of the fall and invest in this space?

Metal stocks end weak

Metal stocks had a weak trading day at the bourses with the BSE Metal Index posting losses of 1.56 percent to end as the top sectoral loser.

All stocks in the sectoral index, except Welspun Gujarat, closed in the red. Gujarat NRE Coke led the losers with a 4.4 percent fall.

Tata Steel ended down 1.3 percent while NALCO slipped nearly 2 percent.

Sterlite Industries fell over 1 percent on softer copper prices.

The Metal Index has gained over 5 percent this month while the Sensex has risen 3.8 percent in the same period.

Would you take advantage of this fall and invest in some metal stocks?

Metal index tops sectoral gainers

Metal stocks had a good run on Tuesday which helped push the BSE Metal Index up 1.6 percent in a broader Mumbai market that rose 1.1 percent.

NALCO led the index components with a 4.2 percent rise, followed by Hindalco which gained 3.2 percent.

Only three stocks in the index, including Sesa Goa, closed in the red.

Sterlite Industries rose 2.3 percent to 761.7 rupees as copper prices moved upwards, tracking small losses in the dollar.

The index has lost more than 11 percent since mid-January.

Which is your favourite pick in this sector?

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?

Tata Steel rises after results

Shares in Tata Steel, the world’s No.8 steelmaker by output, soared over 5 percent in intra-day trade and ended 4.8 percent higher at 585.55 rupees.

The stock, valued at $11.7 billion, nearly trebled last year, easily beating an 81 percent gain on the main index.

The company declared its quarterly results, registering profit for its India operations. Sales jumped 49 percent while net profit rose to 11.92 billion rupees from 4.66 billion rupees a year ago.

Do you see this counter will be a good buy at this point?

Metal index shines in a strong market

The BSE Metal index gained over 4 percent on Wednesday and topped the sectoral indices as the benchmark stock index ended up over 500 points.

Shares in Hindalco rose 7.7 percent and Gujarat NRE Coke added nearly 6 percent to end as top gainers in the index. Sterlite Industries gained 5 percent.

All the metal index components ended with decent gains with stocks such as Hindalco and Sterlite also ending among top Sensex gainers.

The metal index has gained 5.3 percent this week, even higher than the benchmark Sensex’s return of 3 percent.

What is your view about this sector? Do you have a favourite here?

Tata Steel leads metals

Tata Steel shares jumped 8.2 percent on Wednesday, registering their biggest one-day rise in more than three months and their best close in a year. The surge helped the BSE Metal Index gain 4.2 percent.

The counter led the gainers on the BSE after Federal Reserve Chairman Ben Bernanke said the U.S. recession was probably over, boosting metals stocks across regions. Shanghai copper futures also rose but lagged the international market.

According to Thomson Reuters data, Tata Steel shares have gained 25 percent this month and over 140 percent since January.

Data shows the company, with a relatively high Beta of 1.76, balances it with good operating margin of 37.6 percent and has a price-to-book value ratio of 1.45.

Do you think the counter can reach new highs as the global economy shapes up again?

Sensex slips 1.7 pct; WPI slips to 30-year low

The BSE Sensex traded weak on Thursday as investors continued to book profits after it surged nearly 80 percent since early March.

The 30-share sensitive index swung from an intra-day high of 14,631 to an intra-day low of 14,188, and closed 257 points lower at 14,266. The fifty-share Nifty ended 2.4 percent down at 4251.

The fall in the benchmark was led by L&T, ICICI Bank, ONGC and Reliance Industries.

On the sectoral front, the BSE Realty Index dropped 5.8 percent, followed by the Metal Index which ended 4.8 percent lower. However, BSE IT Index closed 0.17 percent higher.

WPI fell 1.61 percent in early June on an annual basis for the first time in three decades.

FIIs sold net $47.3 million in shares and $7.5 million in debt.

Do you think the current sell off will continue on Friday? Will the Sensex slip below the 14,000 mark?