Rising Chinese demand brings good fortune for Indian steel sector
Rising Chinese demand brings good fortune for Indian steel sector
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Equity benchmark Sensex was trading at 51,748.44 point, up by 216.92 points or 0.42 per cent at 11.22 am. Meanwhile, at 11.24 am, Nifty was up 0.36 per cent or 54.90 points, at 15,228.20. However, some sectors like FMCG and Metal were down by around 1 per cent. And major oil and gas companies were down too.

Oil and gas majors like Reliance Industries, BPCL, IGL, Petronet, Castrol India, IOC, ONGC, GAIL and others were trading in red. These indices were trading lower than 0.87 per cent at 11.27 am.

In the case of metal stocks, it was trading below 1 per cent. At 11.24 am, Tata Steel was down by 0.94 per cent, trading at Rs 687.95 per piece. The day low of Tata Steel was Rs 685.05 per piece.

Hindalco Industries’ share was down by 1.05 per cent at Rs 292.50 per share. Meanwhile, Coal India was trading at Rs 134.25 per share, fell by 2.01 per cent.

Shares of State-run Steel Authority of India touched a day low of Rs 65.75 per piece. At 11.25 am, it was trading at Rs 66.05 per share, down by -1.27 per cent.

Vedanta was also trading in red at Rs 185.05 per piece, fell by 1.46 per cent.

Stocks of JSW Steel, Hindustan Zinc and NMDC were up.

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