By Rutam Vora
Indian markets opened with a positive noe on the back of optimism in the international equities markets. India’s commodity stocks remained in demand as overall market sentiment drifted above the previous closing.
Metal and automobile stocks remained in high demand with both sectoral indices trading with moderate gains on the Bombay Stock Exchange (BSE). BSE Metals index gained 1.51% to 15,116.20 points in the opening hours on Wednesday and BSE Auto index maintained its uptrend with gains of over 1% at 8094.27. However, oil stocks tumbled pulling the sectoral index, BSE Oil & Gas down by 0.21% in the opening trading hours.
The firmness in the metal stocks was mainly attributed to the high metal prices on London Metal Exchange (LME) on Tuesday. Meanwhile in the Asian markets, Copper prices for three-month delivery was up in early trade Wednesday on hopes of improvement in global demand for the metal. (Commodity Online)
