Metal stocks surge - Microsec

Indian equities wrapped the volatile session on a buoyant note with Nifty surging over 100 points on Thursday. Metal, oil & gas and PSU stocks led the rally in the markets. Metal stocks surged after a report showed unexpected expansion in China's manufacturing in August.

Nifty closed at 5408.45 up by 105.90 points or 2.00% over the previous day closing of 5302.55 after witnessing a low of 5254.05 and a high of 5418.95. Sensex closed at 18312.94 up by 407.03 points or 2.27% over the previous day closing of 17905.91.It touched an intraday low of 17759.59 and high of 18349.82.

The markets’ breadth was positive. Out of 2404 stocks traded 1258 stocks advanced, 1009 stocks declined and 137 stocks remained unchanged. In Sensex, Out of 30 stocks 28 stocks advanced and 02 stocks declined.

Among the sectors, BSE Metal, BSE Oil & Gas and BSE PSU were the main gainers of the day which increased by 8.23%, 3.57% and 2.98% respectively.

In BSE Metal sector Sesa Goa, Hindalco Inds, and Sterlite Industries increased by 13.10%,10.93% and 10.42% respectively. In BSE Oil & Gas sector ONGC, BPCL and Cairn India advanced by 7.28% 4.15% and 3.64% respectively.

Source : Equity Bulls

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