Metal stocks gain; Vedanta rises by 11.6%

Metal stocks led by Vedanta were in demand today, rising up to 11.6 per cent, on value-buying at lower levels after witnessing huge selling recently.
Shares of Vedanta surged 11.58 per cent and National Aluminium Company Ltd gained 7.16 per cent on BSE.
Similarly, Tata Steel was up 4.26 per cent, Hindustan Zinc rose 3.79 per cent, Steel Authority of India Ltd climbed 2.19 per cent and Hindalco Industries gained 1.89 per cent.
Vedanta and Tata Steel were the top gainers among the 30-Sensex components.
The BSE metal index went up 0.99 per cent to settle at 7,439.05.
"Shares of Vedanta continued to surge in today's trading session following a sharp recovery in copper, zinc and aluminium prices," said Hiren Dhakan, Associate Fund manager, Bonanza Portfolio Ltd.

Metal stocks were on the back-foot amid downturn in China, the biggest consumer of commodities, and depressed commodity prices the world over.
In the stock market, the Sensex ended with a gain of 233.70 points at 27,079.51.