Metals shine; Sterlite, Tata Steel lead
10 Jun 2009, 1134 hrs IST, ET Bureau
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MUMBAI: Shares of metal companies were in the limelight Wednesday powering
the BSE Metal Index up more than 4 per cent riding on the surge in
global
commodity prices.
The weakening of the dollar and renewed investor confidence on revival in the global economy boosted the rally in commodities. The three-month copper contract on the London Metal Exchange edged up 0.5 percent to $5,195 a tonne, after inching close to the eight-month high of $5207.75 in the previous session.
Jindal Steel, up 6.79 per cent, fronted the rally, followed by SAIL (5.51%), Sterlite Industries (5.51%), Tata Steel (5.36%), Hindalco Industries (4.88%) and Sesa Goa (4.82%).
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