Nifty Metal Index ends 4.52% higher. Top gainers: COMPANY LATEST PREV CLOSE GAIN() GAIN(%) HIND.COPPER 80.00 71.40 8.60 12.04 HINDALCO INDS. 264.50 242.80 21.70 8.94 NATL. ALUMINIUM 87.10 80.15 6.95 8.67 VEDANTA 310.45 291.10 19.35 6.65 WELSPUN CORP 151.75 143.25 8.50 5.93 Sectoral Performers BSE Sensex: Tata Steel, Yes Bank among top gainers, Axis Bank top loser Market at close The S&P BSE Sensex ended at 34,427, up 96 points while the broader Nifty50 index settled at 10,565, up 39 points. Idea Cellular hits 52-week low; stock falls 35% in 2018 Idea Cellular hit a 52-week low of Rs 70, down 2% on the BSE, on concerns of delay in merger between the company and Vodafone India. The stock of telecom services provider trading at its lowest level since January 20, 2017, has fallen 35% thus far in the current calendar year 2018. READ MORE Vedanta's Electrosteel buy is value-accretive; move to buoy earnings Mining major Vedanta has taken a step towards adding steel to its armoury, which is expected to buoy its value and earnings. With the company’s resolution plan for acquisition of Electrosteel Steels being approved by the National Company Law Tribunal, Vedanta will be acquiring a 90 per cent stake in the latter. READ MORE
In the global markets, resource stocks were on a roll in Asia on Thursday as oil prices hit heights not seen since late 2014 and ignited a rally across commodities, though the potential boost to inflation globally also put some pressure on fixed-income assets.
(with wire inputs)