Hopes of global economic recovery : Metal shares shine

by khalid on 17/09/2009 · 0 comments

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BSE Metal rising 9.60% over the past one month till 15th September 2009 while Sensex rise 6.77% and we can say metal outperformed the market. Similarly if we see the past one quarter, metal soaring 18.67% as against Sensex 10.61% rise.

All metal stocks increased as follows, Tata Steel (up 8.84%), JSW Steel (up 6.69%), Steel Authority of India (up 6.68%), Hindalco Industries (up 5.12%), JSL (up 4.16%), Sterlite Industries (up 3.43%), Ispat Industries (up 2.80%), Sesa Goa (up 2.56%), Jindal Steel & Power (up 2.32%), National Aluminium Company (up 2.20%), Welspun Gujarat Stahl Rohren (up 1.54%), Maharastra Seamless (up 1.39%), and Bhushan Steel (up 1.31%), rose.

Today on 16th Sep 09, the BSE Metal index was up 4.37% at 14,552.11. It outperformed the Sensex, which was up 1.37% at 16,679.79. This is interesting that last year 15th Sep 08, Lehman Brothers Holdings Inc’s filed for bankruptcy which dragged the global economy into its worst postwar slowdown.

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