Financial Daily from THE HINDU group of publications
Wednesday, Feb 15, 2006
Financial Daily from THE HINDU group of publications Wednesday, Feb 15, 2006 |
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Markets
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Stock Markets Agri-Biz & Commodities - Metals Columns - Ear to the ground Global cues hit metal stocks Rajesh abraham
Base metal stocks led by Hindustan Zinc, Hindalco, Sterlite Industries and National Aluminium dipped on Tuesday on weak global prices, dealers said. They said that the metals have been witnessing selling pressure at the London Metal Exchange, resulting in profit booking by funds and operators on key metal stocks on the domestic exchanges. Till last week, the base metal prices in the domestic markets touched all-time high levels and correction is underway, dealers said. Hindustan Zinc shares declined by 6.26 per cent to Rs 327.35 on BSE, compared to the previous closing of Rs 349.20. National Aluminium dropped by 5.34 per cent on the BSE to Rs 275.5. On the NSE, the share prices closed at Rs 274, lower by 5.86 per cent from the previous closing of Rs 291.05. Similarly, Hindalco's share prices closed at Rs 158.55 on the BSE, lower by 2.31 per cent from the previous close. On the NSE, the shares declined by 2.37 per cent to close at Rs 158.55. Sterlite Industries closed lower by 2.62 per cent on the BSE at Rs 1354.6, compared to the previous close of Rs 1391.05. On the NSE, the shares ended at Rs 1,355, a decline of 2.79 per cent from the previous close of Rs 1,393.85.
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