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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.
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