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    Nifty Metal Index

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    Dynamic Levels
    The metal stocks have significantly outperformed other sectors in the current year. The Nifty Metal Index has surged over 40% year-to-date, compared to a 9% gain in the Nifty 50 index. Within the metal sector, stocks like Vedanta have increased by as much as 140%. However, the overall market has been volatile recently with the Nifty breaching key support levels. It remains to be seen if the recovery in metal stocks will continue or if broader market weakness will impact metals as well.

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    Nifty Metal Index

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    Dynamic Levels
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    The metal stocks have significantly outperformed other sectors in the current year. The Nifty Metal Index has surged over 40% year-to-date, compared to a 9% gain in the Nifty 50 index. Within the metal sector, stocks like Vedanta have increased by as much as 140%. However, the overall market has been volatile recently with the Nifty breaching key support levels. It remains to be seen if the recovery in metal stocks will continue or if broader market weakness will impact metals as well.

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    Nifty Metal Index

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    The metal stocks have significantly outperformed other sectors in the current year. The Nifty Metal Index has surged over 40% year-to-date, compared to a 9% gain in the Nifty 50 index. Within the metal sector, stocks like Vedanta have increased by as much as 140%. However, the overall market has been volatile recently with the Nifty breaching key support levels. It remains to be seen if the recovery in metal stocks will continue or if broader market weakness will impact metals as well.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    31 views4 pages

    Nifty Metal Index

    Uploaded by

    Dynamic Levels
    The metal stocks have significantly outperformed other sectors in the current year. The Nifty Metal Index has surged over 40% year-to-date, compared to a 9% gain in the Nifty 50 index. Within the metal sector, stocks like Vedanta have increased by as much as 140%. However, the overall market has been volatile recently with the Nifty breaching key support levels. It remains to be seen if the recovery in metal stocks will continue or if broader market weakness will impact metals as well.

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    Download as PDF, TXT or read online from Scribd
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    of 4

    Are The Metal Stocks A Good Bet In The Current

    Scenario?
    Amid the ongoing volatility in the Indian Equity market Nifty
    share price has breached the psychological support barrier of
    8600 and is trading at Rs 8,577.40 spot.
    Earlier on Thursday, Nifty share price slipped down to its
    psychological strong support of 8600 and all sectoral indexes
    closed in the negative zone including the star performer of the
    year - Nifty Metal Index - on the back of weak economic trade
    data from China. Following this trend, the Index remained over the level of 8600.
    However, in todays trading session, this level was broken and we are yet to see if this
    level hold or it will go further down.
    Shares of metal companies were trading higher in a range-bound market as the Nifty Metal
    Index hit 52-week high on the National Stock Exchange (NSE) on Monday.
    On 9th October the Nifty Metal Index hit a 52 week high of 2,712.25 in intra-day trade,
    moving up from its previous high of 2685.15 touched on 8th September, 2016.
    National Aluminium Company, Nalco was up by 7 per cent at Rs 52.50, Tata Steel was up
    by 3 per cent at Rs 418 and NMDC was up by 1.6 per cent at Rs 119.70. They all have hit
    their respective 52-week highs on the NSE in intra-day trade on the same day. Vedanta,
    Hindalco Industries and Steel Authority of India (SAIL) were up 1 per cent and 3 per cent.
    The five Companies Vedanta, Hindalco Industries, JSW Steel, Hidustan Zinc and Tata
    Steel are the brightest star of the sector.

    Price Taken from 1st January 2016 to 10th October 2016


    In the year to date so far Nifty Metal Index has outperformed all other sectors. The sector
    surged over 40 per cent while Nifty 50 gained only 9 per cent in the same period. Within
    the sector the top five stocks have gained between 63 per cent and 119 per cent. Vedanta
    tops the list with an up move of 140 per cent. Meanwhile, MCX Metal Index gained 17 per
    cent in the same period.

    According to the above chart we can see a clear surge in the metal index of Nifty since the
    beginning of June 16.
    At the moment Nifty metal Index is trading at 2658.50, up by 15 points or 0.57 per cent.
    We are yet to notice if the equity benchmark Index of Nifty will show any signs of
    recovery and if it does, if the metal index will follow the same trend!

    Disclaimer
    The investment advice or guidance provided by way of recommendations, reports or other ways are solely the personal views of the research
    team. Users are advised to use the data for the purpose of information and rely on their own judgment while making investment decision.
    Dynamic Equities Pvt. Ltd - SEBI Investment Advisory Reg. No.: INA300002022

    Disclosure
    Dynamic Equities Pvt. Ltd. is a member of NSE, BSE, MCX SX and a DP with NSDL & CDSL. It is also engaged in Investment Advisory
    Services and Portfolio Management Services. Dynamic Commodities Pvt. Ltd., associate company, is a member of MCX & NCDEX. We
    declare that our activities were neither suspended nor we have defaulted with any stock exchange authority with whom we are registered.
    SEBI, Exchanges and Depositories have conducted the routine inspection and based on their observations have issued advise letters or levied
    minor penalty on for certain operational deviations.
    Answers to the Best of our knowledge and belief of Dynamic/ its Associates/ Research Analyst: DYNAMIC/its Associates/ Research
    Analyst/ his Relative:

    Do not have any financial interest / any actual/beneficial ownership in the subject company.
    Do not have any other material conflict of interest at the time of publication of the research report
    Have not received any compensation from the subject company in the past twelve months
    Have not managed or co-managed public offering of securities for the subject company.
    Have not received any compensation for brokerage services or any products / services or any compensation or other benefits from
    the subject company, nor engaged in market making activity for the subject company
    Have not served as an officer, director or employee of the subject company

    Article Written by
    Nabarupa Kanjilal

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