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Metal Stocks Rally as China Rate Cut Boosts Sentiments


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 383.00BSE Quote15.7 (-4.10%)
NSE 382.80NSE Quote16 (-4.18%)
Tata Steel: Quotes, News
BSE 1132.10BSE Quote46.55 (-4.11%)
NSE 1132.10NSE Quote47.05 (-4.16%)
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.

Story first published: Monday, November 24, 2014, 12:30 [IST]
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