Metal shares rises as LMEX surges 5%
Hindalco Industries, Sterlite Industries, Tata Steel, Sesa Goa, NMDC and Hindustan Zinc are up 2-4% on BSE.
Shares of metal companies are in focus on the bourses with many frontline stocks trading higher up to 4% after LMEX, a gauge of six metals traded on the London Metal Exchange (LME), rose over 5% on Friday, after a better than expected US non farm payrolls data.
Hindalco Industries, Sterlite Industries, Tata Steel, Sesa Goa, NMDC and Hindustan Zinc are trading higher in the range of 2-4% on the Bombay Stock Exchange (BSE).
The BSE metal index, the largest gainer among sectoral indices, is up nearly 2% or 172 points at 8,958 compared to 0.24% rise in benchmark Sensex at 19,622 points at 1050 hours.
The US economy created a net 165,000 jobs in April much higher than market expectation, as per the Labor Department. US jobs data brightened demand prospects for the industrial metal.
LMEX had rallied 5.2% or 155 points at 3,134 on May 3, 2013 on the London Metal Exchange.
Hindalco Industries, Sterlite Industries, Tata Steel, Sesa Goa, NMDC and Hindustan Zinc are trading higher in the range of 2-4% on the Bombay Stock Exchange (BSE).
The BSE metal index, the largest gainer among sectoral indices, is up nearly 2% or 172 points at 8,958 compared to 0.24% rise in benchmark Sensex at 19,622 points at 1050 hours.
The US economy created a net 165,000 jobs in April much higher than market expectation, as per the Labor Department. US jobs data brightened demand prospects for the industrial metal.
LMEX had rallied 5.2% or 155 points at 3,134 on May 3, 2013 on the London Metal Exchange.