Stay away from metal space, says Phani Sekhar

Phani Sekhar of Angel Broking told CNBC-TV18, "Metal stocks will be a strict avoid because apart from raw material concerns you are also not looking at price buoyancy because they are tied up with global prices. On top of it demand continues to be sluggish and it is not expected to stage a dramatic recovery, it will improve gradually if at all. So, I guess that is one space that is a clear avoid as we head into 2015."

Jindal Steel & Power closed at Rs 151.85, up Rs 0.25, or 0.16 percent on the BSE.

The share touched its 52-week high Rs 350 and 52-week low Rs 125.05 on 09 June, 2014 and 17 December, 2014, respectively.