Share market update: Metal & mining stocks jump up to 5%; Vedanta, MOIL top gainers

NEW DELHI: Most metal & mining stocks were trading with decent gains in Wednesday's session, keeping the sectoral index higher.

The Nifty Metal index was trading 2.3 per cent up at 3,609 around 12:15 pm.

Shares of Vedanta (up 5.76 per cent), MOIL (up 5.67 per cent) and NMDC (up 4.63 per cent) were the top gainers in the metal index.


Shares of Hindustan Copper (up 2.81 per cent), Jindal Stainless (Hisar) (up 2.19 per cent), Hindustan Zinc (up 2.02 per cent) and Nalco (up 2.01 per cent) too gained significantly.

Steel Authority of India (SAIL) (up 1.96 per cent), Hindalco Industries (up 1.96 per cent), APL Apollo Tubes (up 1.91 per cent), Tata Steel (up 1.80 per cent), Coal India (up 0.81 per cent), JSW Steel (up 0.76 per cent) and Jindal Steel & Power (up 0.34 per cent) too were in the green.

Domestic equity market was in negative zone amid weak global cues and rupee's fresh fall against the US dollar.

Moreover, investors remained on the sidelines even as the RBI's monetary policy committee (MPC) meet began to decide on key rates.

Benchmark NSE Nifty50 index was down 29 points at 10,979, while the BSE Sensex was 84 points down at 36,442.

Among the 50 stocks in the Nifty index, 24 were trading in the green, while 26 were in the red.

YES Bank, Vedanta, Bajaj Finance, Hindalco Industries and Tata Steel were among the Nifty gainers.

Bharti Infratel, Eicher Motors, Mahindra & Mahindra, UPL and Grasim Industries were among the top losers in the Nifty index.