Metal stocks gain on positive data from China

Metal stocks have zoomed on the back of positive manufacturing data in China, the world's biggest consumer and producer of the metal.

 

China's factory activity expanded at its fastest pace in five months in May due to rising new orders, reinforcing views projecting that the world's second-largest economy is regaining momentum in the second quarter following Beijing's targeted measures to bolster growth. The official Purchasing Managers' Index rose to 50.8 in May from April's 50.4, the National Bureau of Statistics said on Sunday, beating market expectations of 50.6.

 

Coal India has zoomed 3.4% to Rs 387 on the BSE. The stock opened at Rs 376, touched a high of Rs 388 and a low of Rs 374 on the BSE. Over 4,658,076 shares have been traded on both the stock exchanges so far.

 

Sesa Sterlite has risen by 2.8% to Rs 287.7 on the BSE. The stock opened at Rs 282, touched a high of Rs 289 and a low of Rs 282 on the BSE. Over 5,291,525 shares have been traded on both the stock exchanges so far.

 

Tata Steel has increased by 2.5% to Rs 505 on the BSE. The stock opened at Rs 498, touched a high of Rs 508 and a low of Rs 496 on the BSE. Over 3,909,065 shares have been traded on both the stock exchanges so far.

 

Hindustan Zinc has appreciated by 1.9% to Rs 162 on the BSE. The stock opened at Rs 159, touched a high of Rs 163 and a low of Rs 159 on the BSE. Over 1,468,794 shares have been traded on both the stock exchanges so far.

 

Steel Authority Of India has increased by 1.8% to Rs 93 on the BSE. The stock opened at Rs 93, touched a high of Rs 94.5 and a low of Rs 92.7 on the BSE. Over 7,082,900 shares have been traded on both the stock exchanges so far.