The Basic Materials sector (XLB) held steady on a trading day that saw S&P 500 drop 0.6%.

The ETF is trading at 0.7% of its 50-day moving average and 102.9% above its 200-day moving average.

Universal Forest Products (UFPI) was a significant gainer in the sector, rising 8.2%. The stock closed at $34.98 with 349,392 shares moving. The stock traded in a range of $34.65 to $37.47. Share price is up, having risen 30 cents (0.9%) from $34.68 on March 20, 2012.

Steel Dynamics (STLD) was a major loser in the sector. Its price dropped 5.5% (-76 cents) to close at $13.12, as five million shares moved. The stock traded in a range of $13.07 to $13.89. The stock has been sinking in the last two months, down $2.37 (-15.3%) from a price of $15.49 on February 21, 2012.

Chemtura Corporation (CHMT) rose 5.3% to close at $17.36, crossing its 50-day moving average of $16.50. Meanwhile, Valhi (VHI) dropped 4.3% to close at $51.16, moving below its 200-day moving average or $56.11.

First Majestic Silver (AG) rose 1.8% to close at $15.83, approaching its 50-day moving average of $17.05. It has also moved closer to its 200-day moving average of $17.89. Terra Nitrogen Company L.P (ROLL) fell 3.6% to close at $248.92, moving closer to its 50-day moving average of $245.01. Also, the stock moved closer to its 200-day moving average of $42.83.

PPG Industries (PPG) hit a new 52-week high today, reaching $101.90 to top the previous high of $98.89.