Steel stocks outperform Sensex this week

Among the sectoral indices, metal index shot up by 3.65% to 17,902. The index outperformed both the broader indices, Sensex and the Nifty which advanced 2.4% each.

Scrips like Bellary Steels and Jai Corporation were the major gainers , zoomed 16% on the metal index. Lloyd Steel and Steel Exchange were some of the other prominent gainers on the index, increased 10-15% each.

Tata Steel, JSW Steel and SAIL added 5% each to Rs 643, Rs 1,242 and Rs 247, respectively.

The other movers in this sector were Man Industries, National Steel, Sunflag Iron and Ispat Industries, up 1-5% each.

On the other hand stocks like Sarda Energy, OCL Iron & Steel and Steelco Gujarat were the major draggers on the index, down 8% each. Steelco Gujarat, Ajmeera realty Rishabh Digha Steel and Bhagwandas Metals declined 1-6% on the BSE metal index.