Metal Stocks Outlook for the week – 02 to 06.01.2017
Metal Stocks Outlook for the week – 02 to 06.01.2017
( www.rupeedesk.in )
The major stocks in the mining and metals segment are expected to trade in a narrow range in the first week of 2017 as we see no major immediate positive triggers to carry forward the gains made in 2016. The Nifty Metal index rose over 1% this week, gaining 29.40 points to 2652.50 points. The index underperformed the broader Nifty 50 index which rose 2.5% over the week. The Nifty Metal index, however, has gained 45% in 2016, while the Nifty 50 gained only 2% in the same period. Metal stocks rose this year mainly due to the positive sentiment amid gains in commodity prices. Stocks of most major ferrous producers' shares ended flat this week. In fact, we see the ferrous stocks in the consolidation phase for the first two quarters of 2017. However, he said that the non-ferrous producers' stocks could be in the limelight due to buoyant metal prices. The rise in manganese prices seen in 2016 has still left some more room for MOIL to increase prices and earn higher profits.
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Metal Stocks Outlook for the week – 02 to 06.01.2017
( www.rupeedesk.in )
The major stocks in the mining and metals segment are expected to trade in a narrow range in the first week of 2017 as we see no major immediate positive triggers to carry forward the gains made in 2016. The Nifty Metal index rose over 1% this week, gaining 29.40 points to 2652.50 points. The index underperformed the broader Nifty 50 index which rose 2.5% over the week. The Nifty Metal index, however, has gained 45% in 2016, while the Nifty 50 gained only 2% in the same period. Metal stocks rose this year mainly due to the positive sentiment amid gains in commodity prices. Stocks of most major ferrous producers' shares ended flat this week. In fact, we see the ferrous stocks in the consolidation phase for the first two quarters of 2017. However, he said that the non-ferrous producers' stocks could be in the limelight due to buoyant metal prices. The rise in manganese prices seen in 2016 has still left some more room for MOIL to increase prices and earn higher profits.
