Metal shares outperform other sectors

Metal shares outperform other sectors The metal sector has outperformed other indices in trade today due to renewed interest shown by the investors.

Among the major metal shares, Jindal Steel, JSW Steel, Tata Steel and SAIL increased between 2.27 per cent and 0.88 per cent during the day. The BSE Metal Index recorded a strong increase of 8.81 per cent during the previous week while the Sensex has gained 1.17 per cent during the same period.

Reports have indicated that the Indian steel stocks might be on the path of a slow recovery. Stable steel prices and lower coal costs are expected to help the sector grow in the coming future. Moody's Investors Service said that the outlook on the steel sector in Asia remains stable due to expectations of higher demand and no significant capacity addition in China.

Experts said that the steel stocks have been positive because due to a hike in steel prices in Europe and India. Higher demand in China is expected to push up the prices of the metal in the Asian market in the coming year.

HDFC Securities have advised the investors to buy Tata Steel shares that are on the decline in the market as the metal sector is expected to get good returns.

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