Metals climb on reports US, China to sign deal in Nov; Tata Steel up 5%

According to a Bloomberg report, US President Donald Trump said he was exploring several locations to sign the first phase of a trade agreement with China, including Iowa.

Shares of metal companies were trading higher for the second straight day on Monday, with Nifty Metal index advancing 6 per cent since Thursday, on report that US and China could sign the interim trade deal in November, which would trigger better prospects for Global growth.

At 10:56 am, the index was the largest gainer among key sectoral indices, up 4 per cent, as compared to a 0.55 per cent rise in the Nifty50 index.

Among individual stocks, Jindal Steel & Power (JSPL), JSW Steel, Steel Authority of India (SAIL) and Tata Steel were up more than 5 per cent