Metal Stocks
Outlook for the week – 19 to 23.01.2015
( www.rupeedesk.in )
Stocks of metal companies are
expected to continue to trade under pressure next week as worries
due to slowdown in global
commodity prices are expected to continue to weigh on the sector.
The current week saw the CNX
Metal Index fall 3.96% despite a positive Announcement in the
form of the new mining ordinance.
The benchmark indices in contrast rose around 2.4-2.7%.
Sesa Sterlite was up around 2% on
Friday as the Goa government revoked its ban on iron ore
mining in the state. he company's
stock could react more on the announcement as there is now
more clarity regarding the state
of the company's mines in Goa. We expect Hindalco Industries to continue trading weak despite its 10% fall this
week tracking fall in global copper prices.
