Indian Indices End Flat; Metal And Banking Stocks Witness Buying

Indian share markets continued to trade near the dotted line during closing hours and ended the day on a flattish note. Stocks from the metal sector and banking sector witnessed buying interest, while stocks from the telecom sector and energy sector were trading in the red.

At the closing bell, the BSE Sensex stood lower by 1 point and the NSE Nifty stood flat. The BSE Mid Cap index closed up by 0.2%, while the BSE Small Cap index ended the day up by 0.8%.

Asian stock markets finished on a mixed note as of the most recent closing prices. The Hang Seng stood up by 0.3% and the Nikkei was trading down by 0.3%. The Shanghai Composite was trading up by 0.1%.

European markets were trading on a positive note. The FTSE 100 was up by 1.3%. The DAX was up by 0.1% while the CAC 40 was up by 0.8%.

The rupee was trading at 71.16 to the US$ at the time of writing.

In the news from the steel sector, according to World Steel Association, India has replaced Japan as the world's second-largest steel producing country, while China is the largest producer of crude steel, accounting for more than 51% of production.

The report by the global steel body stated that China's crude steel output jumped 6.6% to 928.3 million tonnes (MT) in 2018 from 870.9 MT in 2017. The country's share increased from 50.3% in 2017 to 51.3% in 2018.

India's crude steel production in 2018 stood at 106.5 MT, up 4.9% from 101.5 MT in 2017. This meant India has replaced Japan as the world's second-largest steel producing country. Japan produced 104.3 MT in 2018, down 0.3% compared to 2017.

Global crude steel production reached 1,808.6 MT in 2018 from 1,729.8 MT in 2017, a rise of 4.6%.

Note that in the last 6 years, India has been the world's fastest growing steel producer, among the top 10. This is evident in the chart below:

India's Steel Production Growing at the Fastest Rate

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And to know what's moving the Indian stock markets today, check out the most recent 

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