Metal Stocks Rally as China Rate Cut Boosts Sentiments

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    Metal stocks on the exchanges rallied after China last week cut interest rates. Hindalco was trading higher by 4 per cent, while Jindal Steel jumped almost 5 per cent and Tata Steel was up 3 per cent. Sesa Sterlite also gained ground in trade.

    Metal Stocks Rally as China Rate Cut Boosts Sentiments
    Hindalco Industries: Quotes, News
    BSE 220.35BSE Quote0 (0.00%)
    NSE 220.15NSE Quote0.15 (-0.07%)
    Tata Steel: Quotes, News
    BSE 513.40BSE Quote1.15 (0.22%)
    NSE 513.55NSE Quote1.3 (0.25%)
    China late last week unexpectedly cut interest rates, which pushed stocks and commodity higher. Metal stocks tend to react to data and decision from China, which is a major consumer of commodities.

    Analysts say the rally in metal stocks may continue for some more time as investors digest news of the cut in interest rates.

    Read more about: hindalco tata steel
    Story first published: Monday, November 24, 2014, 12:30 [IST]
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