Metal stocks post decent gains

November 18, 2010

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?

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China and India continue to show high growth rates.With India also expected to push up its spending on infrastructure development,consumption of steel,copper and aluminium will increase.Auto and white goods industry are also expected to expand.

Metal counters will outperform index.Sterlite however may be an exception.It is facing headwinds.

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