India's metals index hits record high on higher global prices

Ratnamani Metals and Tubes

17/05/2024 09:15

** Nifty metal index  .NIFTYMET  up 1.5% to a record high of
9,584.7 points
    ** Base metals, nickel prices on the London Metal Exchange
rose to highest since Sept. 2023, boosted by funds inflow and
supply disruptions worries in New Caledonia  MET/L 
    ** All 15 constituents of the index are trading in green
    ** Ratnamani Metals and Tubes  RMT.NS , JSW Steel  JSTL.NS 
and Hindustan Zinc  HZNC.NS  up between 2.6%-3.1%, top gainers
in the index
    ** Most stocks on the index are rated "buy" on avg as per
LSEG data, including APL Apollo Tubes  APLA.NS , National
Aluminium  NALU.NS , NMDC  NMDC.NS , which are up 2.2%-3.5%
    ** Including session's gains, NIFTYMET is up ~20% YTD vs
3.4% rise in the benchmark Nifty 50 index  .NSEI 

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))