Metal Stocks Outlook for the week – 09 to 13.01.2017
Metal Stocks Outlook for the week – 09 to 13.01.2017
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Metal Stocks Outlook for the week – 09 to 13.01.2017
( www.rupeedesk.in )
Major mining and metals stocks are seen trading with a positive bias next week as overall demand for metals is
likely to improve in the near term. Bullish on non-ferrous metal stocks and said the picture also looks good for
overall metal stocks, which are likely to carry forward their 52-week gains, in near future.
Metal stocks have performed well in 2016, out-performing the broader market and have given better returns than
defensive stocks like IT, pharma and consumer goods. Over the last 52 weeks, the gains for the Nifty metal index
have been over 50%, while consumer goods stocks have gained over 4%. Nifty-IT and Nifty-pharma lost over 7%
and 10% during the period. Top picks are Hindalco, Vedanta and MOIL, and he expects demand for aluminium to rise due to shortage in supply,
which would benefit Hindalco and Vedanta and also expects ferrous metal stocks to continue their positive bias next
week. Stocks of major steel companies like Tata Steel, SAIL and JSW Steel have performed well over this week.
gaining over 5%. We expect most metal stocks to do well next week, continuing their good run of this week.
