Steel stocks steal the show in lacklustre April for equity markets

Returns for the month slipped into marginal negative territory because of the 2 per cent fall on Friday


Coronavirus | Equity markets | stock markets

Samie Modak  | 

steel, exports

The benchmark indices ended little changed in April, but the rally in steel stocks remained the highlight for the month. Returns for the month slipped into marginal negative territory because of the 2 per cent fall on Friday. The small-cap universe outperformed by a huge margin, with the BSE Smallcap index gaining 4.9 per cent and the Nifty Smallcap 100 adding 5.6 per cent. Among sectoral indices, the BSE Metal index rose 24 per cent with stocks like JSW Steel and Steel Authority of India (SAIL) posting more than 50 per cent gain. The realty index fell the most — 7.6 per cent — after several states imposed restrictions on movements to curb the spread of coronavirus. The devastating second wave in India saw the domestic markets underperform most global peers in April.


Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Sat, May 01 2021. 01:25 IST