Market Movers: BSE Metal index soars 7.6 per cent; these stocks shine!

Vedanta, Hindustan Copper and Hindalco rally in today’s positive session.

With the opening up of Shanghai in June, the metal index rebounds after being penalized by 15 per cent in the last one month. In today’s session, metal stocks rallied taking the S&P BSE Metal Index up by 7.6 per cent.

At the closing bell on May 17, the Sensex closed with a gain of 2.5 per cent or 1345 points to close at 54,318.47, while the Nifty index gained 2.6 per cent or 417 points at 16,259.30. 

Vedanta, Hindustan Copper and Hindalco witnessed positive action in today’s session.  

Vedanta Ltd India zoomed 11.84 per cent in today’s session and closed at Rs 321.15. The shares hit intraday high and low at Rs 323 and Rs 293, respectively. Vedanta, India’s only diversified natural resource group, has fallen 32 per cent in a month amid a slowdown in demand and negative market sentiment. After today’s rally, the stock is still trading 27 per cent below its 52-week high logged a month ago. 

Hindustan Copper witnessed a rally of 9.73 per cent in today’s session and closed at Rs 100.40. The stock hit an intraday high and low of Rs 101.20 and Rs 91.50, respectively. In a month the stock has lost 25 per cent. In yesterday’s session, it logged a fresh 52-week low of Rs 88.75. 

Hindalco witnessed a gain of 9.52 per cent in today’s session and closed at Rs 428.50. The stock logged it's intraday high and low in today’s session at Rs 432.45 and Rs 398.80, respectively. Alike other metal stocks, Hindalco was under selling pressure last month, losing 28.41 per on the bourses. At today’s closing price, the stock still stands corrected by 32 per cent from its 52-week high logged on March 29, 2022.