Metal stocks jumped tracking gains in China stocks.
Shanghai’s index ended up 2.93 per cent on government steps to curb speculative activity.
China is world’s top metals consumer and its improving economy bodes well for metal producers.
Tata Steel shares were up 5.9 per cent, Vedanta rose 4.5 per cent, and Steel Authority of India surged 7.5 per cent.
Metals stocks had previously been underperforming due to worries about China.
The BSE metal index was up 2.83 per cent. The metal index has fallen 33.5 per cent so far this year versus an 8.3 per cent fall in the BSE index.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.