The BSE Metal index today bounced back in early trade with a gain of nearly 1 per cent.
Shares of Tata Steel and Sterlite Industries, which ended in the red yesterday, opened the day on a positive note, taking the BSE-Metal index up by 0.72 per cent to 15,186.62 points.
Tata Steel surged by 1.09 per cent to Rs 519.50 on BSE while Sterlite Industries witnessed an upsurge of 1.22 per cent to Rs 161.
Analysts attributed the gain in the metal sector to the sheer short covering as the sector did not participate in the recent market rally.
Vedanta Group promoted iron ore firm Sesa Goa also rose to Rs 323.70, up 1.25 per cent from previous close.
Hindalco, the only metal counter that gained yesterday, today also opened in the green and went up to Rs 170.15, reflecting a gain of 1.09 per cent in morning trade.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app