Metal stocks rise up to 5.3% on Chinese GDP data

MUMBAI: Metal stocks today surged up to 5.3 per cent as better-than-expected Chinese economic data boosted the trading sentiments.

Shares of Sesa Sterlite surged 5.36 per cent, Tata Steel rose by 4.50 per cent and Hindalco Industries was up 3 per cent on the BSE.

Among others, JSW Steel gained 2.97 per cent, while NMDC (2.55 per cent), National Aluminium Company Ltd (1.27 per cent), Steel Authority of India Ltd (1.24 per cent), Coal India Ltd (0.78 per cent) and Hindustan Zinc (0.75 per cent) also gained.

The BSE metal index rose by 3.03 per cent to end at 10,409.21.

"The BSE metal index went up more than 3 per cent. Metal stocks rallied with the news that China's GDP came in better than expected. China, being India's largest metals consumer, posted a 7.3 per cent GDP growth, beating analyst expectations," said Raghu Kumar, Cofounder RKSV.

In the broader market the BSE benchmark Sensex ended at 28,784.67, up 522.66 points.