Nifty Metal index extends gain; Hindustan Zinc, Nalco up 4%
Metal
stocks such as APL Apollo TubesBSE 4.91 % (up 4.71 per cent), Hindustan ZincBSE
3.84 % (up 3.85 per cent), National Aluminium CompanyBSE 2.17 % (Nalco) (up
3.65 per cent) and MOILBSE 3.66 % (up 3.04 per cent) gained up to 4 per cent in
Tuesday's trade, helping Nifty Metal index extend the gains for the third
consecutive session.
The
Nifty Metal index was trading 1.08 per cent up at 3,589 around 10.40 am (IST),
while benchmark Nifty was 0.66 per cent up at 9,853 and Sensex was trading at
31,498, up 0.69 per cent.
Besides
Nifty Metal index, auto and realty indices were also gaining over 1 per cent in
Tuesday's trade.
Rate-sensitive
auto stocks were gaining ahead of RBI's monetary policy review outcome, due
tomorrow, amid encouraging September sales data.
PSU
banks, however, appeared cautious. State Bank of IndiaBSE -0.63 % (down 0.87
per cent), IndusInd BankBSE 1.18 % (down 0.49 per cent) and Kotak Mahindra
BankBSE -0.27 % (down 0.24 per cent) were losing in trade.
However,
Axis BankBSE 0.64 %, ICICI BankBSE 0.14 % and IDFC Bank were trading in the
green.
Tata
MotorsBSE 4.37 %, GAILBSE 3.51 %, Bajaj AutoBSE 2.35 %, Reliance IndustriesBSE
1.83 %, Bharti Infratel and Indiabulls Housing Finance were the top gainers in
the Nifty pack.
On the
contrary, Power GridBSE -1.64 %, Maruti, State Bank of India and Larsen &
Toubro were the top losers.
On the
NSE, 1143 stocks were advancing, compared with 455 stocks declining and 399
stocks remaining unchanged.
On the BSE, 1,492 stocks were advancing whereas 671
stocks were lagging and 98 stocks were appearing unchanged.
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