Metals Stocks Outlook For The Week - 31.12.2018 To 04.01.2019
Stocks of metal producers are likely to trade higher next week as waning concerns over a
possible slowdown in global growth in 2019 may help jittery investors give the sector a relook.
This week, the Nifty Metal index fell 1.6%, sharply underperforming the benchmark Nifty 50 index, as a 1-3% fall in global base metal prices weighed on sentiment. However, rebound in the sector index yesterday is likely to sustain in the coming sessions as the sector is near the oversold zone on the relative strength index. The Nifty Metal index is trading sharply below its 50-day moving average of 3254.19 points. The broad market may lend support to the sector next week as improving risk appetite will turn investor focus to stocks of companies with high beta stocks that give high return with high risks.
Source : Cogencis Information Services Ltd.
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Stocks of metal producers are likely to trade higher next week as waning concerns over a
possible slowdown in global growth in 2019 may help jittery investors give the sector a relook.
This week, the Nifty Metal index fell 1.6%, sharply underperforming the benchmark Nifty 50 index, as a 1-3% fall in global base metal prices weighed on sentiment. However, rebound in the sector index yesterday is likely to sustain in the coming sessions as the sector is near the oversold zone on the relative strength index. The Nifty Metal index is trading sharply below its 50-day moving average of 3254.19 points. The broad market may lend support to the sector next week as improving risk appetite will turn investor focus to stocks of companies with high beta stocks that give high return with high risks.
Source : Cogencis Information Services Ltd.
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