Nifty Metal Index ended 3.15% lower today. Top losers: COMPANY LATEST PREV CLOSE LOSS() LOSS(%) JINDAL STEEL 185.30 199.00 -13.70 -6.88 TATA STEEL 505.20 532.35 -27.15 -5.10 HINDALCO INDS. 212.20 219.50 -7.30 -3.33 HIND.COPPER 55.10 57.00 -1.90 -3.33 VEDANTA 203.35 210.10 -6.75 -3.21 See More Nifty sectoral losers of the day BSE Sensex: ONGC top gainer of the day, Tata Steel, Vedanta, Axis Bank among top losers Market at close The S&P BSE Sensex ended at 36,373, down 147 points while the broader Nifty50 index settled at 10,980, down 28 points. NEWS ALERT: Cabinet approves increase in FRP of sugarcane by Rs 20/quintal WEB EXCLUSIVE Nifty Metal index could enter a bear phase, say analysts Metal stocks are slowly heading towards a bear phase – typically described as a fall of 20 per cent or more from peak levels – given the ongoing trade war concerns, feel analysts. The Nifty Metal index that lost nearly 2.6 per cent in trade on Wednesday was the worst performing sectoral index on the National Stock Exchange (NSE). On a year-to-date (YTD) basis, the index has already lost over 16 per cent as compared to around 5 per cent rally in the Nifty50 index, ACE Equity data shows. READ MORE
The S&P BSE Sensex ended at 36,373, down 147 points while the broader Nifty50 index settled at 10,980, down 28 points.
The S&P BSE Sensex earlier today hit a fresh record high of 36,747.87 in intra-day deals, surpassing its previous high of 36,740.07 touched on Friday, July 13, 2018.
Among sectoral indices, Nifty Realty and the Nifty Metal indices were the worst hit in trade today. Jindal Steel, Tata Steel, Hindustan Copper, Hindalco and Vedanta from the metal pack slipped 3 per cent to 6.8 per cent.
Among gainers, shares of state-owned Oil and Natural Gas Corp rose 2.8 per cent on reports that ONGC has authorised the government to sell its 49 per cent stake in helicopter service provider Pawan Hans.
Asian shares followed Wall Street higher on Wednesday as a bullish outlook from the head of the US central bank buoyed the dollar, lifted Tokyo shares to a one-month top and sent gold to a one-year trough.
(with Reuters inputs)