Metal shares rally, Tata Steel surges 4%

Hindalco Industries, Sterlite Industries, Sesa Goa, JSPL, JSW Steel and SAIL are up by more than 2% each on the BSE.

Shares of metal companies have rallied in the range of 2-4% after the European Central Bank said it will undertake an aggressive bond-buying program to help struggling euro zone countries.

Tata Steel, Hindalco Industries, Sterlite Industries, Sesa Goa, Jindal Steel and Power, JSW Steel and SAIL are up by more than 2% each on the Bombay Stock Exchange (BSE).

The BSE metal index, the largest gainer among sectoral indices, is up 2.25% as compared to 1.5% rise in benchmark Sensex at 0921 hours.

“Investors also hoped China, which accounts for about 40% of global copper demand, would attack slowing growth with aggressive stimulus measures,” the Reuters report suggests.