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Select metal <keyword id="6354298" type="ORGANIZATION" weightage="100" keywordseo="stocks">stocks</keyword> were back in the limelight as investors bought into beaten down valuations in the sector that has seen some of the heaviest selling pressure over the last fortnight mainly due to global reasons. 
 <keyword id="28423" type="CITY" weightage="100" keywordseo="vedanta">Vedanta</keyword> was the top gainer on the <keyword id="6354813" type="COMPANY" weightage="100" keywordseo="nifty">Nifty</keyword>, the stock surging 7.10 rupees, or 5.1 percent, to 146 rupees on heavy volumes of 67 lakh shares. Its futures also posted the sharpest gain -- 4.8 percent -- in derivatives trade. Vedanta and other metal companies such as SAIL, <keyword id="6357147" type="CITY" weightage="100" keywordseo="Tata-Steel">Tata Steel</keyword>, NMDC etc are in an intense bear grip as global prices of metals collapse and demand remains tepid. 
 Vedanta has plunged 24 percent in 1 month compared with a 6.2 percent drop in the <keyword id="35140" type="CITY" weightage="100" keywordseo="BSE">BSE</keyword> Metals Index. 
 
Other stocks in this space that are posting gains today are Bhushan Steel, Jindal Saw and Hindalco. 
 
 
(Image credits: moneycontrol)

Metal stocks are hot
again!

The collapse of Evergrande, one of China’s largest home developers, is “not a Lehman moment” but the fear may haunt steel and metal stocks in India

Mumbai, Dec 12 () Market benchmark Sensex on Thursday rose by 169 points on the back of gains in banking and metal stocks amid positive global trends after the US Federal Reserve signalled no change in interest rates throughout next year.
 After rallying over 300 points in day trade, the 30-share BSE Sensex ended 169.14 points, or 0.42 per cent, higher at 40,581.71 ahead of the release of key macro data after market close.
 The broader NSE Nifty settled 61.65 points or 0.52 per cent, higher at 11,971.80.
 Tata Motors was the top gainer in the Sensex pack, rallying 7.17 per cent, followed by Yes Bank 5.96 per cent, Vedanta 3.68 per cent, Tata Steel 3.29 per cent, SBI 2.91 per cent and Kotak Bank 1.76 per cent.
 HDFC Bank rose by 1.18 per cent while Larsen &amp; Toubro advanced 1.23 per cent, helping the index extend gains for a second day.
 Reliance Industries, IndusInd Bank, HeroMotoCorp, PowerGrid, NTPC, Sun Pharma and Mahindra &amp; Mahindra also advanced.
 On the other hand, major IT stocks dropped due to a strengthening rupee against the US dollar. Infosys fell 2.63 per cent, HCL Tech 1.51 per cent, and TCS by 1.20 per cent. Among others, ONGC declined 1.68 per cent and Bharti Airtel by 0.95 per cent.
 Vinod Nair, Head of Research at Geojit Financial Services said, "FED's dovish stance on future rate trajectory and strengthening rupee brings cheer to investors. Global sentiment is likely to turn positive in expectation of delay in US tariff deadline while expecting more positive developments from US-China trade talks."
 After its two-day meeting, the US Federal Reserve on Wednesday night indicated that it may not change interest rates throughout next year. The central bank, which has cut the lending rate three times this year, said that it will set its sights on low inflation and the global economy.
 Hemang Kapasi, Portfolio Manager - Equity Investment Products, Sanctum Wealth Management said, "With the US Fed keeping the policy rate unchanged and likely to hold on with rates largely throughout next year led to uptick in global markets. India was no exception, all sectors ended in green led by Metals, PSU &amp; Banking Indices while IT was the only sectoral indices ending in red largely led by INR appreciation by a percentage point over last one week."
 Investors were also awaiting factory output data scheduled to be released later in the day, traders said.
 Sectorally, BSE metal, industrials, auto, bankex, capital goods and power indices rose up to 2.41 per cent.
 While BSE IT, telecom and teck indices declined up to 1.53 per cent.
 On the currency front, the rupee appreciated 21 paise against the US dollar to 70.63 (intra-day).
 Brent futures, the global oil benchmark, rose 0.74 per cent to USD 64.19 per barrel.
 Bourses in Hong Kong, Seoul and Tokyo ended on a positive note, Shanghai slipped into the red.
 Stocks in Europe were also trading higher. ANS MR
MR

Sensex rises 169 points as banking, metal stocks advance

Mumbai, Feb 10 () Market benchmark Sensex closed 162 points lower on Monday due to heavy sell-offs mainly in auto and metal stocks as investors continued to gauge the severity of coronavirus outbreak and its economic impact. The 30-share BSE Sensex settled 162.23 points, or 0.39 per cent, down at 40,979.62. It hit an intra-day low of 40,798.98. Similarly, the broader NSE Nifty slipped 66.85 points, or 0.55 per cent, to 12,031.50. Mahindra and Mahindra (M&amp;M) was the top laggard in the Sensex pack, cracking over 7 per cent, after the home-grown auto major on Saturday reported 73 per cent decline in consolidated quarterly net profit. Other major laggards were Tata Steel, ONGC, Sun Pharma, Hero MotoCorp, PowerGrid and NTPC. On the other hand, Bajaj Finance, Kotak Bank, TCS, Asian Paints, HDFC, HUL and RIL closed with gains.Market mood remained jittery amid rising apprehension about economic fallout due to Chinese coronavirus globally as the increase in casualty figures surpassing SARS outbreak has raised alarm bells about its severity, Narendra Solanki, Head Fundamental Research (Investment Services) - AVP Equity Research, Anand Rathi Shares &amp; Stock Brokers, said. Bourses in Hong Kong, Tokyo and Seoul settled in the red, while those in Shanghai ended higher. Stock exchanges in Europe also opened on a negative note. Meanwhile, Brent crude oil futures slipped 0.44 per cent to USD 54.23 per barrel. On the currency front, the Indian rupee appreciated by 8 paise to 71.35 per US dollar (intra-day). ANSMKJ

Sensex sheds 162 pts; auto, metal stocks drag

<ul class="summary-list"><li>A decline in physical demand for <keyword id="18712" type="ENTERTAINMENT" weightage="60" keywordseo="Gold">gold</keyword> by central banks has been a challenge for gold, says Bank of America. </li><li><keyword id="31199" type="COMPANY" weightage="60" keywordseo="Jewelry">Jewelry</keyword> sales have been disappointing as the COVID-19 pandemic suppressed customer activity.</li><li>A "lack of interest" from investors in buying gold has also been a pressure point for the market. </li></ul>Gold prices have been weighed down by weaker physical demand for the precious metal and a "lack of interest'" from investors, according to Bank of America, which also said prices could still push above $2,000 an ounce this year. <a href="https://markets.businessinsider.com/commodities/realtime-chart/gold-price">Spot gold prices</a> have lost about 6% during 2021 to fall below $1,800 per ounce. Gold prices climbed by roughly 22% in 2020, during which they settled for the first time above $2,000. Prices last year benefited from investors piling into the perceived safety of gold as the COVID-19 pandemic unfolded and from low interest rates set by central banks as the health crisis persisted, analysts have said. Gold prices traded around $1,790 an ounce on Wednesday. Bank of America still expects prices to average $2,063 in 2021, a forecast it set last year. But the bank's commodity research team in a note published Tuesday said the gold market in recent weeks has bumped up against challenges after the "furious" rally early in the first half of 2020. Meanwhile, the commodity has been "walking the fine line between inflation and rates."Bank of America analysts told clients to watch these three key headwinds facing the gold market:Weakening physical demand Gold purchases by central banks serve as a staple for the market but BofA said there have been signs of "fading" demand. The World Gold Council in January said gold purchases by central banks were about 60% lower year-over-year in 2020. Gold's performance during the year increased reserve portfolios, leading some central banks to spot "an opportune time to obtain liquidity to support their struggling economies," during the pandemic, said WGC in outlining factors that led to the slowdown in gold purchases. Lackluster jewelry market Jewelry sales have been 'disappointing,' the firm said. The pandemic exacerbated softness in the key Indian jewelry market and last year stoked drop in sales in China, BofA said. China is one of the world's largest <keyword id="31671" type="CITY" weightage="100" keywordseo="markets">markets</keyword> for luxury goods. "While activity has since expanded [year over year], it remains below longer-term ranges," the analysts said.Investor purchases pull back Another headwind comes from weakness in traditional physical markets that "has been exacerbated by lack of interest from investors," according to the note. Assets under management at physically backed <keyword id="45333" type="ORGANIZATION" weightage="60" keywordseo="Metals">metals</keyword> <keyword id="46594" type="PERSON" weightage="60" keywordseo="ETFs">ETFs</keyword> declined following "persistent" inflows during the first half of 2020. Assets under management at the vehicles in recent years have ballooned to $193 billion. Changes in the global macro backdrop have discouraged investor inflows into gold, and the gold market "has struggled to price in reflation," the bank said. Inflation expectations have accelerated as Washington lawmakers consider approving a $1.9 trillion fiscal stimulus package. At the same time, the rollout of coronavirus vaccinations has bolstered economic growth prospects. "On its own, this is usually bullish gold," BofA said of increased inflation expectations. "Yet, an increase in breakevens has fed straight through into nominal rates. As a result, real rates, usually the key driver of the yellow metal, have remained in a tight range since autumn," BofA said. The 10-year break-even rate, a gauge of the market's inflation expectations, hit 2.2% this week, the highest level since 2014, according to Bloomberg data. That breakeven rate is the difference in yield between 10-year Treasuries and 10-year Treasury Inflation-Protected Securities, or TIPS. The bank said the divergence between real rates -- which are adjusted for inflation -- and nominal rates has been influenced in part by concerns that central banks will start tightening monetary policy in the face of a global economic rebound."The implications of this apprehension has been mirrored in the mini-taper tantrum earlier this year, when gold dropped by 5%, as 10-year rates rallied by 23 [basis points]," said BofA.   Rising rates can make bonds and other assets more attractive to investors than gold, which bears no interest.

3 reasons why gold prices have struggled lately, according to Bank of America

<ul><li>Metal company stocks were rallying up to 5% today on rising prices of the commodity after crude oil prices hit a two-month high.</li><li>Analysts say rise in input cost due to high crude oil prices and low production capacity at sites have increased the prices of metals, which is good for the company.</li><li>Nifty Metal is the top gainer among sectoral index with 2.6% gains.</li></ul>While the outlook for <a href="https://www.businessinsider.in/business/corporates/news/hindalco-is-a-better-bet-than-tata-steel-because-electric-vehicles-need-aluminium/articleshow/88827641.cms">steel makers remains</a> cloudy, the weakening of the dollar is propping up commodity prices including metals as well as crude oil. When the dollar weakens, the same amount of any commodity costs more in terms of dollars. Therefore, prices increase. And, the stocks of metal companies are mirroring that optimism. Nifty Metal is the top gainer among sectoral index with 2.6% gains. Metal prices are said to be rising because of high crude oil prices and lower production with companies, which is boosting the prices upwards. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Metal companies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jan 13 change </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jindal Steel &amp;Power </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Steel </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4.6% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JSW Steel </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.5% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Coal India </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.2% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">NMDC </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.4% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hindustan Copper </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.3% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SAIL </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vedanta </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.7% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">APL Apollo Tubes </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.37% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Enterprises </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1% </td></tr></tbody></table>(Prices as at 1 p.m) Relation between metal prices and crude oil prices “There are reasons for the rise. One is that metals stocks are always linked to crude oil prices and, right now, they have jumped $84 per barrel, which is probably at a recent high. Usually when crude prices go up, base commodity prices also go up, which is a good thing for metal companies,” said Deven R Choksey, managing director at KR Choksey Investment Managers told Business Insider. Currently, the crude oil prices are at $85 per barrel, trading at a 2-month high after the US oil inventory fell for the seventh straight week to levels last seen in 2018. Note that crude oil is a basic input in the production process and is used to fuel cars and planes for transportation and generate electricity for use in production of goods and services. So any change in the price of oil will impact the costs for the company and hence increase the product price. Another reason for the rise in metal prices is that companies had cut down production in recent weeks because they thought the demand wasn’t strong enough. “Anywhere across the globe particularly Europe production capacities at being pared, they (companies) are not increasing the production be it because of environment issues or covid related restrictions. Many companies have been keeping their production capacity at a lower level, which is resulting in higher prices of the product due to shortage of supply,” added Choksey. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/tcs-shareholders-cheer-share-buyback-and-strong-growth/articleshow/88867953.cms">TCS shareholders cheer share buyback and strong growth</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/wipro-slips-6-on-disappointment-over-poor-than-expected-earnings-performance/articleshow/88870822.cms">Wipro slips 6% on disappointment over poor than expected earnings performance</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/swiggy-will-deliver-stuff-on-tvs-motors-electric-scooters-following-footsteps-of-zomato-amazon-and-flipkart/articleshow/88872404.cms">Swiggy will deliver stuff on TVS Motors’ electric scooters</a>

Metals are mirroring the rally in crude oil and the recent output cuts are helping

New Delhi, Dec 3 () Metal stocks witnessed a massive selling pressure on Tuesday falling up to 6.2 per cent amid fresh concerns over global trade tussle in the wake of slapping of tariffs by the US on imports from Brazil and Argentina.
Among metal companies, Jindal Steel &amp; Power was the top loser as its shares plunged 6.18 per cent, followed by Tata Steel which tanked 5.07 per cent on the BSE.
Also, JSW Steel fell 4.27 per cent, SAIL 3.55 per cent, Vedanta 3.42 per cent, Hindalco Industries 2.39 per cent, Hindustan Zinc 1.19 per cent, Coal India 0.12 per cent and National Aluminium Company 0.12 per cent.
"On the global front, the recent tariffs by the US on steel imports from Brazil and Argentina may make investors jittery over global trade concerns," said Ajit Mishra, VP - Research, Religare Broking.
Led by the losses in these scrips, the BSE metal index closed 2.67 per cent lower at 9,547.41 and was the biggest loser among the sectoral indices.
Geojit Financial Services, Head of Research, Vinod Nair said, "market turned cautious due to global issues like import tariffs by the US on Argentina and Brazil."
In the broader market also, the BSE benchmark index fell by 126.72 points to close at 40,675.45. 
"On the back of global worries, metal stocks closed sharply lower," said Shrikant Chouhan, Senior Vice-President, Equity Technical Research, Kotak Securities. SUM
 
 
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You Searched For "metal stocks" and got 7 results

Metal stocks are hot again!

Shailendra Bhatnagar

The collapse of Evergrande, one of China’s largest home developers, is “not a Lehman moment” but the fear may haunt steel and metal stocks in India

Bhakti Makwana

Sensex rises 169 points as banking, metal stocks advance

PTI

Sensex sheds 162 pts; auto, metal stocks drag

PTI

3 reasons why gold prices have struggled lately, according to Bank of America

Carla Mozée

Metals are mirroring the rally in crude oil and the recent output cuts are helping

Bhakti Makwana

Metal stocks in a tailspin amid fresh trade jitters stoked by US

PTI

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