SAIL shares were the top gainers rising 5% to Rs 114.40 against the previous close of Rs 108.90 on BSE. Market cap of the firm climbed to Rs 46,731 crore.
BSE Ltd, Zomato Ltd Reliance Industries Ltd, Tanla Platforms and Zomato Ltd, Tata Steel Ltd, Reliance Industries Ltd and Mazagon Dock Shipbuilders Ltd were some of the stocks leading the NSE turnover chart.
Domestic stock investors were looking for safeguard duty on steel, as Vietnam, South Korea, Europe and the US have already imposed or increased tariff barriers against steel imports in the past few weeks.
SMC Global said that JSW Steel has aggressively expanded into a global steel giant over the past three decades, with a consolidated crude steel capacity of 35.7 million tonnes per annum, including 1.5 MTPA in the US.
The BSE Sensex fell 300.08 points or 0.40 per cent to 73,815.09. Nifty stood at 22,364.90, down 95.40 points or 0.42 per cent. IndusInd Bank tumbled 10 per cent and was the worst Sensex performer.
Metal stocks rally: The BSE metal index surged 1,300 points in the last three sessions. On similar lines, Nifty IT index climbed for the fifth straight session today.
Jefferies has upped target price for Tata Steel to Rs 180 from Rs 165 earlier. The target price for JSW Steel has also been revised to Rs 920 from Rs 850 earlier, but Jefferies continued to maintain a 'Hold' on this stock.
Stocks including JSW Steel, Coal India, ONGC, Tata Power, RailTel, BHEL, Concor, Lupin, Biocon, GMR Airports and IRB Infra will be in the spotlight on Monday, March 10.
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