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Weak day for metal stocks

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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?

Metal counters post gains after yuan move

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Metal stocks jumped on Monday, boosted by China’s move to make the yuan exchange rate more flexible.

Prices of industrial metals jumped in London as China’s pledge on the yuan raised hopes of stronger demand growth in China.

Metal stocks end weak

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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.

Metal index tops sectoral gainers

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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.

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