Metal shares harden, Hindalco, Sterlite Ind surge 5% each
Shares of metals and mining companies are in limelight on the bourses after China's gross domestic product (GDP) expanded faster than expected. China is the world's largest consumer of copper and aluminum.
The Bombay Stock Exchange (BSE) metal index, the second largest gainer among sectoral indices rallied as much as 3% or 339 points compared to 1.5% gain in the benchmark index Sensex at 1200 hours.
Among the individual stocks, Hindalco Industries and Sterlite Industries are up 5% each, followed by Tata Steel and Coal India (up 3% each) and JSW Steel, NMDC, Sesa Goa and SAIL by 2% each on the BSE.
“Copper rose for a second day on Tuesday on the London Metal Exchange (LME) after China's GDP expanded faster than expected, easing concern that demand for industrial metals from the world's second-largest economy will falter as the euro zone teeters on a recession," a Reuters report suggests.
China's GDP grew 8.9% in the fourth quarter (Oct-Dec) from a year earlier, beating expectations, for the economy to expand 8.7%.
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Sensex
| Company | Price | Gain (%) |
|---|---|---|
| Tata Motors | 264.45 | 1.03 |
| TCS | 1,217.35 | 0.70 |
| B H E L | 207.35 | 0.44 |
| Bharti Airtel | 295.80 | 0.24 |



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