Key benchmark indices sharply reversed their morning gains and hit a new intraday low through mid-session . The Nifty slipped 24-pts and reached towards 10,800 level. Selling force in Banking/Fin stocks weighed on the indices.
However, the Nifty metal index continue rise after a number of positive global prospects lifted investor sentiment.
Shares of Coal India, gained 4.69%, as top the index’s gainer on the Nifty metal. Following gainers were National Aluminium (NALCO), Hindustan Copper, NALCO, MOIL, Vedanta and JSW Steel whose contribution were between 2 to 3.70% in range.
Shares of NMDC, Tata Steel, Welspun Corp, Hindalco, SAIL, Jindal Steel (Hisar), Hindustan Zin and Jindal Steel were are contributing their mites on the index rise.
At 1.25 pm, the Nifty Metal Index was quoting at 2,307.30 up by 2.34%from its intraday high level of 3% in Thursdays trading session. Meanwhile, the market front-line indices trimmed their morning gains with Sensex falling 120-pts at 36603.97 and the Nifty down by 10-pts at 10834.70