Metal stocks gain on strong Chinese manufacturing activity

Metal stocks today rose by as much as 3 per cent on strong Chinese manufacturing data.

Shares of Hindalco Industries gained 2.30 per cent, becoming the top gainer among the 30-Sensex blue-chips.

JSW Steel climbed 2.96 per cent, while National Aluminium Company went up by 2.35 per cent.

Shares of Tata Steel rose by 2.18 per cent and Sesa Sterlite (0.93 per cent) on the BSE.

Led by the gains in these stocks, the BSE metal index ended the day at 13,515.28, up 1.47 per cent.

"Steel stocks gained as measure of manufacturing in China climbed to an 18-month high in July," said Jayant Manglik, President-retail distribution, Religare Securities Limited.
 

Meanwhile, in the broader market, the BSE benchmark Sensex ended at 26,271.85, up 124.52 points.