Metal Stocks Outlook for the week – 17 to 21.07.2017
Metal Stocks Outlook for the week – 17 to 21.07.2017
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Stocks of metal and mining companies are likely to continue their gaining streak next week as they track the positive momentum of the broader market. The Nifty 50 and Sensex hit lifetime highs this week, gaining over 2% each for the week. The Nifty Metal index also gained close to 2%. The gauge for metal shares has ended with gains for the third week in a row. The positive on the stocks of most metal companies. One can use any consolidation or dip to add stocks like Hindalco (Industries), Hindustan Zinc, and JSW Steel for short to medium term perspective. On a fundamental basis, the long-term view for most of these companies remains upbeat on hope of an increase in demand, even as Apr-Jun earnings may be muted. Domestic metal companies will report sequential decline in earnings led by lower prices, increased input costs and lower volumes. Earnings, though, are likely to improve beyond Apr-Jun on higher prices.
Source : Cogencis Information Services Ltd.
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Metal Stocks Outlook for the week – 17 to 21.07.2017
( www.rupeedesk.in )
Stocks of metal and mining companies are likely to continue their gaining streak next week as they track the positive momentum of the broader market. The Nifty 50 and Sensex hit lifetime highs this week, gaining over 2% each for the week. The Nifty Metal index also gained close to 2%. The gauge for metal shares has ended with gains for the third week in a row. The positive on the stocks of most metal companies. One can use any consolidation or dip to add stocks like Hindalco (Industries), Hindustan Zinc, and JSW Steel for short to medium term perspective. On a fundamental basis, the long-term view for most of these companies remains upbeat on hope of an increase in demand, even as Apr-Jun earnings may be muted. Domestic metal companies will report sequential decline in earnings led by lower prices, increased input costs and lower volumes. Earnings, though, are likely to improve beyond Apr-Jun on higher prices.
Source : Cogencis Information Services Ltd.
