Metal stocks gained after the government set the floor price for steel imports to stem the flow from China.
At 9.50 am, the Tata Steel stock was up 0.94 per cent or Rs 2.20 at Rs 236.20. Similarly, JSW Steel was trading at Rs 1,060.00, up Rs 20.95 or 2.02 per cent.
In initial trade, both the stocks had gained as much as 4.3 per cent.
Analysts said that steel firms may raise domestic prices but long-term impact could be muted.
Even with hikes, EBITDA per tonne could still be lower than forward looking estimates, said JM Financial.
At about 9.50 am, the Metals index was up 0.17 per cent or Rs 11.74 at Rs 6,910.27.
The BSE Metals index is down 6.75 per cent this year as of Friday's close.