Metal shares in demand

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FOREIGN FUNDS NET SELL RS.463.89 CR IN EQUITIES ON NOVEMBER 20 (PROV)
MUTUAL FUNDS NET SELL RS.176.7 CR IN EQUITIES ON NOVEMBER 19
DII'S NET BUY RS.18.46 CR IN EQUITIES ON NOVEMBER 20 (PROV)
TO ENTER INTO CUSTOMIZED MOTOR CYCLE BIZ VIA PRO-BIKING SHOWROOMS
TO EXPAND PANTNAGAR CAPACITY TO 70,000 UNITS IN NEXT FEW MONTHS
AKER IS A NORWEGIAN SERVICE PROVIDER CO FOR OIL AND GAS OPERATIONS
AKER SOLUTIONS TO PROVIDE SUPPORT SERVICES IN KG BASIN
AKER BAGGED SUB SEA PRODUCTION ORDER FROM RIL IN 2006 ALSO
RELIANCE IND PLACES RS.115 CR ORDER WITH NORWAY'S AKER SOLUTIONS
PORTING CHARGES TO BECOME APPLICABLE FROM DECEMBER 31, 2009
MNP ALLOWS USERS TO CHANGE OPERATORS WHILE RETAINING MOBILE NOS
USERS TO PAY MAX OF RS.19 TO CHANGE OPERATOR WHILE RETAINING OLD NUMBER
TRAI COMES OUT WITH NUMBER PORTABILITY CHARGES
PUNJAB NATIONAL BANK PLANS TO RAISE RS 700 CR BY SELLING BONDS
TATA TELE-QUIPPO OFFERING BETTER SERVICING DEAL FOR TOWERS: SOURCES
GTL BID 10-15% HIGHER THAN TATA-QUIPPO: SOURCES
DEAL VALUED AT AROUND RS.6000 CR : SOURCES
MAY JOIN RACE FOR SHELL'S EUROPEAN REFINERIES: SOURCES
SENSEX, NIFTY UP 1% EACH FOR THE WEEK
CNX MIDCAP INDEX UP 1%, BSE SMALLCAP INDEX UP 1.6%
METAL INDEX UP 3.7%, AUTO INDEX UP 2.3%, FMCG UP 1.5%
INDEX GAINERS: SUZLON UP 9.3%, TATA STEEL UP 6.3%, SAIL UP 5.3%
APPROACHED SHELL FOR BUYOUTS BEFORE ESSAR'S EXCLUSIVE TALKS BEGUN
ESSAR-SHELL IN EXCLUSIVE NEGOTIATIONS TILL NOV 30 TO BUY 3 SHELL REFINERIES
RIL SPOKESPERSON: 'WE ARE REVIEWING A NUMBER OF GLOBAL OPPORTUNITIES'
RIL SPOKESPERSON TO NDTV: 'REVIEWS CANNOT ASSURE TRANSACTIONS'
JSW ENERGY ALSO IN RACE FOR ANDREW YULE'S DPSC STAKE: NW
CESC, SREI INFRA IN RACE FOR ANDREW YULE'S DPSC STAKE: NW
GAMMON INFRA BAGS NHAI PROJECT WORTH RS.850 CRORES
NET PROFIT AT RS.48.2 CR VS RS.12 CR; SALES UP 55% AT RS.849 CR (YOY)

Updated: 30/10/2009 | 12:00 AM IST

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Capital Market

Friday, October 30, 2009 (New Delhi)

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At 11:28 IST, the BSE Metal index was up 4.40% at 14,516.82. It outperformed the Sensex, which was up 1.28% at 16,258.22.

The stock had outperformed the market over the past one month till 29 October 2009, falling 0.40% as compared to the Sensex 4.75% fall. It outperformed the market in past one quarter, gaining 13.81% as against 5.79% rise in the Sensex.

Sterlite Industries (up 6.82%), JSL (up 6.64%), Bhushan Steel (up 5.48%), Hindalco Industries (up 5.22%), JSW Steel (up 4.93%), Hindustan Zinc (up 4.65%), Sesa Goa (up 4.48%), Tata Steel (up 4.25%), Welspun Gujarat Stahl Rohren (up 3.81%), Steel Authority of India (up 3.87%), Jindal Saw (up 3.71%), Ispat Industries (up 2.78%), Jindal Steel & Power (up 2.56%), Mahashtra Seamless (up 1.84%), Gujarat NRE Coke (up 1.79%), and National Aluminium Company (up 1.72%), spurted.

Shanghai copper rose on Friday, chasing steep gains in London futures in the previous session on stronger-than-expected US growth data for the third quarter.

Washington's first estimate of U.S. gross domestic product showed the economy expanded at an annual rate of 3.5% in the third quarter, suggesting it was emerging from the worst recession in 70 years, marking the first quarterly expansion after more than a year of contraction. That lit a fire under commodities and equity markets and at the same time arrested the dollar's recent gains.

Shanghai's benchmark third month contract rallied 2.3% to 51,190 yuan. Three-month copper on the London Metal Exchange pared Thursday's 3.7% surge, easing 0.8% to $6,610 a tonne. On Monday, 26 OCtober 2009, copper touched a 13-month high of $6,732.

In India, the most-traded November copper contract on the Multi Commodity Exchange was 0.26% higher at Rs 313.90 per kilogram at 10:15 IST, after gaining 1.6% in the previous session.

Copper, used largely in power and construction and considered a gauge of economic activity, has nearly doubled in both Shanghai and London in 2009, fueled by Chinese demand and optimism about global economic recovery.

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