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 195.95BSE Quote2.3 (-1.17%)
    NSE 195.65NSE Quote1.95 (-1.00%)
    Tata Steel: Quotes, News
    BSE 503.45BSE Quote3.7 (0.73%)
    NSE 503.20NSE Quote4.55 (0.90%)
    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.

    GoodReturns.in

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