Metal shares surge after China's rate cut

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    Metal shares surge after China's rate cut
    JSW Steel: Quotes, News
    BSE 285.70BSE Quote3.5 (-1.23%)
    NSE 285.60NSE Quote3.4 (-1.19%)
    Hindalco Industries: Quotes, News
    BSE 208.75BSE Quote2.8 (1.34%)
    NSE 208.80NSE Quote2.8 (1.34%)
    Shares of the metal companies surged on Monday after china's surprise rate cuts on Friday, after two years on fears economic growth.

    Hindalco Industries Ltd was up 3.5% to Rs.165.55, Jindal Steel and Power Ltd rose 4.3% to Rs.149, Steel Authority of India Ltd (SAIL) was up3.69 % to Rs.87, Tata Steel Ltd climbed 3.05 % to Rs.476.80, JSW Steel Ltd 2.4% to Rs.1,217 at 3.30 pm IST.

    The Sensex and the Nifty ended the day at another record high after buying support was seen in metal stocks after China unexpectedly cut interest rates.

    Mid cap stocks also had a good trading session with stocks like JSW Energy and among top gainers.

    Read more about: metal shares
    Story first published: Monday, November 24, 2014, 15:49 [IST]
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