Commodity Online
MUMBAI: Metal stocks traded with loss on the Indian bourses as the investors resort to sellout at the higher valuations taking a lead for a downward trend in the Sensex.

The sectoral BSE metal index was down by over 2% on the bourses. The major metal stocks that witnessed a considerable fall during the day included Biral group major, Hindalco Industries Ltd, Vedanta Resources Group miner, Sterlite Industries Ltd among others. Hindalco plunged by close to 3.5% to Rs.76.20, while Sterlite Industries extended loss at Rs.504 down by over 5% during the afternoon trading session on the BSE.



Tata Steel Ltd plunged by close to 3% at Rs.355 and JSW Steel Ltd fell by over 2.5% at Rs.486.55 on the bourses. However, Aluminium Major, National Aluminium Company Ltd (NALCO) shed over 5% at Rs.346.95 on the BSE.

The metal prices on the commexes remained firm with Aluminium prices hovering at Rs.67.5 per kg for MCX May contract, while in the spot market the prices remained high at Rs.69.35 per kg. Steel Futures too remained up at Rs.24700 per MT for MCX June contract.

Copper prices recorded marginal gains on the commodity exchanges in India as MCX Copper June contract remained high at Rs.215.7 per kg.

Post your comment  (0)

Connect:

Post to Twitter

Post to Facebook