Metal stocks led by Hindalco Industries today surged up to 9 per cent, aided by rising global commodities prices.
Shares of Hindalco Industries soared 9.13 per cent, National Aluminium Company 8.98 per cent, Vedanta 6.69 per cent and JSW Steel 4.26 per cent on BSE.
Among others, SAIL rose 4.20 per cent, Jindal Steel & Power 4.04 per cent, Tata Steel 3.17 per cent, Hindustan Zinc 1.93 per cent and NMDC 1.75 per cent.
Led by the sharp rally in these stocks, the BSE metal index surged 4.46 per cent to end at 14,828.33.
"Metal stocks led the market higher against the backdrop of easing trade war concerns and higher metal prices," said Anand James, Chief Market Strategist, Geojit Financial Services.
"Commodities stocks gave a fillip to the markets as global commodities, including crude and metals witnessed a sharp rally, thereby boosting sentiment in regional equities," said Abhijeet Dey, Senior Fund Manager-Equities, BNP Paribas Mutual Fund.
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