3 metal stocks to watch out for today!
The Indian market is trading with minor losses, but the market breadth is positive.
The key equity benchmarks traded with moderate losses in the mid-morning trade. The Nifty traded below the 18,050 level. At 12:21IST, the barometer index, the S&P BSE Sensex, was down 104.31points or 0.19% to 60,722.35. The Nifty 50 index lost 12.90 points or 0.07% to 18,039.80. In the broader market, the S&P BSE Mid-Cap index shed 0.22% while the S&P BSE Small-Cap index gained 0.28%.
Indian shares rose on Friday, lifted by gains in metal stocks and strength in other Asian equities, as investors await domestic earnings reports for further cues on corporate health and U.S. jobs data for hints on future rate hikes. The metal sector gained the most on both indices. The NSE Nifty 50 metal index climbed 2.04% to 6,192.85, while the S&P BSE Sensex metal was 1.45% higher at 16,603.87.
Keep a close eye on these trending metal stocks on Friday, November 04 2022:
Vedanta: The shares of Vedanta Limited rose by nearly 6% on the index today. The stock rose on account of high turnover and a spurt in trading volume. The company released its September quarter results which showed a steep rise in net sales as compared to the last quarter and stood at Rs 6,126 crores.
Hindalco Industries: The shares of Hindalco industries rose by more than 2% and are trading at Rs 421.45 per share. The index contribution to the index was 98% out of the total points the index gained.
JSW Steel: The company declared its quarterly results for the quarter that ended on 30 September. The company reported a consolidated total income of Rs 41,966.00 crore, up 9.64% from last quarter's total income of Rs 38275.00 crore and up 25.46% from last year's same quarter of Rs 33449.00 crore. The company reported a net profit after tax of Rs 859.00 crore in the latest quarter.
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