COMMODITY NEWS:Rubber up 13% in previous week
Even as the global economy shows signs recovery with the metals and
steel prices firming up in 2017 along with other commodities, rubber is
one commodity that surprised in the previous week by gaining 13%.
Steel was one of the biggest gainer as the prices rose by almost 8.5% in the past week.
Anti-dumping duties levied by the government on steel imports from
Europe and China has helped the commodity prices to increase in the
previous week.
Gold was up by 1.8%. Zinc was up by 4.8%, Copper up by 5.4%, Aluminium up by 5.9%, Nickle up by 0.2% in the week gone by.
The commodity prices are expected to remain firm in 2017 owing to good
general economic growth seen due to improving fundamentals.
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HPCL (+1.4%), Tata Motors (+1.2%), Bharti Airtel (-0.94%), Tech Mahindra (+0.82%) and HCL Tech (+0.63%) were the top gainers on Nifty50.
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