Rusting Metals of Indian Stock Market

Uploaded by : DreamGains Financials, Posted on : 08 Sep 2015

 

As market has disappointed investors and trader in last couple of months and yesterday Sensex broke 25000 level and Nifty is close to breaks 7500 level.

 

Rusting of Indian Stock Market

 

As we look at top losers of Nifty in last one year, one thing common between those stocks is that almost all scrips belong to Metal sector.

 

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Scrip Name 6MChg 6M%Chg 1YChg 1Y%Chg
VEDANTA -84.3 -48.41 -124.65 -58.11
HINDALCO -40.35 -36.06 -86 -54.59
TATA STEEL -88.75 -29.14 -183.55 -45.96
CAIRN INDIA -34.2 -18.84 -93.2 -38.74
GAIL -116.1 -29.6 -168.7 -37.93
NMDC -24.85 -20.94 -51.15 -35.28

 

The single biggest reason behind this is sluggish economic growth in China, the world’s largest consumer of metals, would result in a lower export demand going forward.

 

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China revised its annual economic growth rate in 2014 to 7.3% from the previously released figure of 7.4%, according to the National Bureau of Statistics due to a slower services industry growth of 7.8% previous year, down from an initially reported 8.1%.

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