Metal shares hardens, Index surges 4%

Shares of metal companies are in focus on the bourses by surging up to 6% as the dollar fell and weak Chinese data stoked hopes of monetary easing in the world’s largest consumer of the industrial metal.

Hindalco Industries, Sesa Goa, Sterlite Industries, Coal India, JSW Steel, Tata Steel, NMDC, Jindal Steel and Power and Hindustan Zinc are trading higher by 3-6% on the Bombay Stock Exchange (BSE).

The BSE Metal index, the largest gainer among the sectoral indices, is up nearly 4% compared to 2% rise in benchmark Sensex at 1234 hours.

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