Metal stocks shine amid strong global cues; JSPL, JSW Steel jump up to 10%

On the earnings front, Jindal Steel and Power (JSPL) on Monday reported a consolidated net profit of Rs 305.62 crore during the quarter ended March 31, 2020.

Shares of metal companies rallied on Tuesday amid positive global cues as more economies are re-opening post the Covid-19 lockdown. Additionally, encouraging quarterly numbers by some of the companies also boosted investor sentiment. 

At 11:15 am, the S&P BSE METAL index was trading over 2.7 per cent higher at 6,362 points with all the constituents in the green. Jindal Steel and Power (JSPL) was leading the charge with around 10 per cent jump at Rs 105.90 apiece, followed by JSW Steel (up 6 per cent), and Tata Steel (up 3 per cent).

In comparison, the S&P BSE Sensex was trading