Mining Stocks Gained; Sensex Declined Over 250 Points

NEW DELHI, India – Mining stocks advanced on Monday, despite 30 stocks listed under the BSE Sensex index going during the session by over 250 points, settling at 41,192.65 points.

For the day’s trading session, mining stocks were edging higher to reach a more optimistic level, mainly boosted by the significant advance of the Shirpur Gold Refinery.

The Shirpur Gold Refinery was the day’s top gainer after recording a hefty 3.09% increase on the share price on Thursday. The Divyashakti Granites also followed with a significant increase for the day at 2.71%, then followed by the 2.04% gains of the Inani Marbles, and the Gujarat Mineral Development Corporation as it went up by 1.39%. The day’s top gainers for the day also included the Pacific Industries and Decan Gold Mines, which tracked 1.27% and 1.21% gains, respectively.

Most of the mining stocks were trading on a positive note on Thursday as well. Oriental Trimex tracked a 1.11% gains for the day, while the National Mineral Development Corp also went up by 1.04%. KIOCL also tracked a modest increase on Thursday, going up by 0.82%, while the MOIL added 0.71% on shares. The 20 Microns also advanced by 0.47%, while the Orissa Minerals Development Company gained by 0.08%. Although Thursday wasn’t a rally, Iron Ores and Sandur Manganese still went optimistic with modest gains at 0.03%.

However, some stocks weren’t on the positive side of the day’s session. Among the top losers are Moryo Industries, which was down by a significant 4.83%, while the Foundry Fuel tracked a 4.71% drop on stocks. Pokarna was also tracking declines at 2.60% as the market closed, while the SVC Resources was down by 1.84%. Other major losers for the day are Aro Granite Industries, Coal India, ASI Industries, and Ashapura Minichem, which tracked losses of 1.65%, 0.93%, 0.79%, and 0.59%, respectively.

In the Indian stock market session for the day, despite the advances in the mining sector, the NSE Nifty 50 index and the BSE Sensex index was trading lower. The NSE Nifty 50 index recorded a drop of 79.10 points as the session closed, going down towards 12,135.45 points. On the other hand, 30 stocks in the BSE Sensex index tracked lower share prices on Thursday, bringing the index down by 268.61 points to settle at 41,192.65.

Elsewhere in Asia, shares in Tokyo rebounded during a sluggish Thursday session due to a modest weakening of the Japanese yen against the US dollar and on buying dips.