Metal stock rally: The Nifty Metal index rose as much as 1.67 per cent to hit an intraday high of 9,185.20.
As per the channel Check, APL's growth momentum is likely to remain, aided by customers shifting from refurbished steel to hot-rolled coil (HRC) structural steel tubes
Derivatives market data shows FIIs net sold 78,868 contracts of Nifty futures in first 4 trading days of Jan series while OI rose 74,992 contracts; thus implying build-up of short positions in Nifty.
On the other hand, Cyient, CAMS, Hero MotoCorp, ICICI General Insurance, Jio Financial Services witness short build-up in trades on Monday.
At 11:52 AM, 12 of the 15 stocks in the Nifty Metal Index were trading in the green, while three remained in the red