By Admin 
Share Market Closing: A rise was recorded in the Indian stock market in the last trading session of the week. The 30-share BSE Sensex index and NSE’s Nifty 50 closed trading in the green. At the end of trading, the Sensex closed at 82,500.82 with a gain of 328.72 points or 0.40 percent. Whereas Nifty 50 closed at 25,285.35 with a gain of 103.55 points or 0.41 percent. An increase was recorded in midcap and smallcap indices. Whereas Auto, Banking, FMCG indices closed trading on the green mark.
However, a decline was recorded in the shares of Nifty metal companies. The biggest decline was recorded in the shares of Hind Copper. The company’s shares slipped 6 percent to 344 points. Apart from this, shares of Jindal Steel, Hindustan Zinc, Steel Authority of India (SAIL), NMDC and Tata Steel were trading at red mark.
Reason for decline in metal shares?
Heavy buying was seen in metal shares on the last trading day i.e. 9th October. By the end of the trading day, metal shares had risen 2 percent. However, before that a decline was recorded in metal stocks for 3 consecutive days. Due to which today investors sold shares to recover profits. Due to which the share prices fell. Market experts believe that depending on the future behavior of the dollar and global metal price trade, a rise or fall in metal stocks can be expected.
There is a continuous decline in the Indian rupee against the dollar. On Thursday, the rupee had reached the rate of Rs 88.70 per dollar. Which is very close to the record low level of rupee. Because globally dollar is used for metal trading. In such a situation, if the rupee weakens then Indian businessmen have to spend more money. Due to which Indian metal stocks remain sluggish.
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