Metal, cement bounce back

India Cements, JK Lakshmi Cement, Gujarat Ambuja Cement, Shree Digvijay Cement and Mangalam Cement from the cement sector and Hindalco Industries, Sterlite Industries, Jindal Steel and Power, National Steel and Bhusan Steel from the metal sector on Tuesday bounced back by over 10 per cent from their intra-day lows on the Bombay Stock Exchange (BSE).

The BSE Metal index made a strong comeback rising 882.36 points during the intra-day trade on Tuesday.

The metal index hit an intra-day low of 9,119.24, down 818.38 points, and finally settled at 9885.85, 51.76 points lower than Monday's close of 9937.62. On the other side, the index touched a high of 10,001.60 during the intra-day trade.

Although most of the metal stocks recovered substantially during the intra-day trade, they ended the day on a negative note.

Hindalco came aluminum prices by Rs 10,000 a tonne with immediate effect. The stock settled 2.24 per cent higher at Rs 214.85 against its yesterday's close of Rs 210.15, on the BSE.

Sterlite Industries fell 14 per cent at Rs 441 during the intra-day trade but finally ended just 2.36 per cent lower at Rs 502.30 compared with its previous day's close of Rs 514.45.

Hindustan Zinc saw 15 per cent volatility between the intra-day high and low. The stock hit a low of Rs 794 and a high of Rs 911 during the intra-day trade, while it closed at Rs 899.65 yesterday. The stock ultimately settled at Rs 844.50, 6.13 per cent lower than Monday's close.

ACC was down to an intra-day low of Rs 828.05, 4 per cent lower, and eventually ended the day at Rs 861.85, 4.84 per cent higher than Monday's close. The stock gained more than 9 per cent from an intra-day low market price.

Gujarat Ambuja Cement rose 8 per cent at Rs 108.55 (Rs 100.90), before the stock kissed an intra-day low of Rs 97.50. Grasim Industries plummeted nearly 8 per cent at Rs 1,961 but finally closed at Rs 2,182.20, 2.65 per cent higher than Monday's closing price of Rs 2,125.95. The stock saw a volatility of 13 per cent during the intra-day trade.

While UltraTech Cement finished 10 per cent up at Rs 749.86 from yesterday's end valuation of Rs 683.50, JK Laksmi Cement shot up 8 per cent at Rs 146.10 (Rs 135.90), Dalmia Cement (Bharat) gained 6 per cent at Rs 354.60 (Rs 334.60) and India Cements rose 5 per cent at Rs 203.45 (Rs 193.90).