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The metals stocks have had a spectacular run in the past year, but off late their shine is getting dimmer as inflation woes and the possibility of a crackdown by the Chinese government are weighing on commodity prices. The commodities like copper have soared nearly 100% in the last year to trade at all-time high levels while steel prices are at 10-year highs. Meanwhile, aluminium and nickel have jumped between 35-45%. But off late, metals prices witnessed a decline in the last one week. Nickel prices have corrected more than 4% followed by copper and aluminium. Metal stocks naysayers say the rally wasn t supported by demand fundamentals but was rather led by the price rise. Even then, any investor who would have put money in the Nifty Metals index a year ago would have tripled their investment. As for individual stocks, the returns range between 35-850% in the past year. Even on a YTD basis, the Nifty Metals pack has rallied 57% as against a rise of 9% in the Nifty50 pac ....
Stock market watch: What to expect from the week ending May 28, 2021 SECTIONS Last Updated: May 24, 2021, 06:30 AM IST Share Synopsis After months of rally, metal stocks took a beating in the past week and the trigger was the comment from China that it will strengthen its management of commodity supply and demand to curb any ‘unreasonable increase in prices’. Getty Images The jump in global commodity prices have started reflecting in domestic inflation. More intra-day volatility likely this week: With new daily cases going below the 3 lakh mark, the stock market got a breather on the covid front. The government’s plans to augment vaccine production and complete 95 crore vaccinations by the end of 2021 also improved market sentiments. Now the speculation is when the second wave-induced restrictions will be lifted. Once that happens, auto and consumer discretionary companies will be the main beneficiaries. ....
Market Movers: China rains on steel stocks’ parade as fertilizer stocks jump in glee SECTIONS Share Synopsis The Chinese rained on the parade of steel stocks today as their move to curb the exuberance in domestic commodity prices cut deep gash into the fortune of metal stocks owners. The Nifty Metal index slid over 3 per cent, the biggest sectoral loser in town Related NSE Explore Now MUMBAI: Can you smell the odor of palpitation? No, it’s not coming from the cryptocurrency traders; they are probably in mourning. It is coming from investors who have a large exposure to commodity stocks and it is pretty strong, one could say. ....
Benchmark indices trade flat; metal stocks lead decliners May 20, 2021 Benchmark indices were trading flat with narrow movement on Thursday, dragged by metals. At 1 pm, the BSE Sensex was near the day’s low (49,781.48) at 49,858.74, down 43.9 points or 0.09 per cent. It hit an intra-day high of 50,099.17. Nifty 50 was at 14,992.50, down 37.65 points or 0.25 per cent. It hit an intra-day high of 15,069.80 and a low of 14,960.50. Gaurav Garg, Head Of Research, CapitalVia Global Research Ltd, said, “In morning trades, Indian equity indexes continued their lacklustre performance ahead of the weekly expiration of index futures and option contracts.” “Traders remained cautious, with rating agency ICRA stating that the increase in headline figures of key economic indicators in April is attributable to the base effect and that the economy will see a hard time as consumer morale remains low. US market decline further, as Federal Reserve participants agreed that ....