Market Now: Metal stocks shine as trade tariff worries ease

ETMarkets.com|
Updated: Mar 06, 2018, 10.37 AM IST
0Comments
Market Now: Metal stocks shine as trade tariff worries ease
Most Asian markets mirrored gains seen on US stocks in overnight trade.
NEW DELHI: Metal & mining stocks Tata Steel (up 2.41 per cent), Jindal Steel & Power (up 2.12 per cent), Vedanta (up 1.99 per cent) and National Aluminium Company (NALCO) (up 1.80 per cent) were trading up in morning trade on Tuesday.

Metal stocks got traction after President Donald Trump indicated that the proposed tariffs on steel and aluminium imports will not be implemented if a "fair" NAFTA agreement is reached.

Shares of JSW Steel (up 1.66 per cent), NMDC (up 1.30 per cent), Steel Authority of India (SAIL) (up 1.15 per cent), Hindustan Zinc (up 0.83 per cent), Jindal Stainless (Hisar) (up 0.60 per cent), Hindustan Copper (up 0.56 per cent) and Hindalco Industries (up 0.35 per cent) were also in the green.

The Nifty Metal index was trading 1.2 per cent up at 3,877 around 10:25 am (IST).

However, shares of APL Apollo Tubes (down 0.99 per cent), Coal India (down 0.85 per cent) and MOIL (down 0.25 per cent) were down in the sectoral index around that time.

Benchmark indices opened on a firm note on Tuesday amid ease in concerns over US President Donald Trump-led 'trade war'.

Most Asian markets mirrored gains seen on US stocks in overnight trade.

The NSE Nifty50 index was up 55 points at 10,413, while the BSE Sensex was 180 points up at 33,926.

Among the 50 stocks in the Nifty index, 34 were trading in the green, while 16 were in the red.
0Comments
Read more on

Also Read

BFSI and metal stocks can be looked at for short-selling

Market Now: Metal stocks melt on profit booking

Market Now: Metal stocks melt; SAIL, Jindal Steel plunge 4%

Market Now: Metal stocks mixed; Hindalco, Vedanta slip 1%

Market Now: Metal stocks crack; Vedanta, Jindal Steel down 3%

Comments
Add Your Comments