Metal Stocks Outlook for the week – 27 to 31.03.2017
Metal Stocks Outlook for the week – 27 to 31.03.2017
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The lacklustre performance last week, shares of metal and mining companies are seen consolidating over the next few trading sessions due to lack of triggers. Other than that, these shares are seen tracking the movement in the broader market. Benchmarks Nifty 50 and Sensex are expected to be choppy next week due to the expiry of the March futures and options contracts. Movement, though, is expected to be restricted due to absence of significant news. With the exception of Hindustan Zinc, which announced a special dividend of 27.50 rupees per share this week, and its parent Vedanta, shares of most metal and mining companies ended with losses. According to technical charts, shares of Tata Steel will continue to be in consolidation mode. The shares of Vedanta, meanwhile, may extend gains next week. The company law tribunal approved the merger of Cairn India with the company, and this may keep sentiment upbeat for the stock.
Source : Cogencis Information Services Ltd.
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Metal Stocks Outlook for the week – 27 to 31.03.2017
( www.rupeedesk.in )
Source : Cogencis Information Services Ltd.