BSE Metal index hits 6-year high; Tata Steel, Jindal Steel hit 52-wk highs

Thus far in the current calendar year 2017, the S&P BSE Metal index rallied 42% against 21.5% rise in the Sensex.

Shares of metal companies were in focus with the S&P BSE Metal index hitting six-year high on expectations of strong earnings growth in July-September quarter (Q2FY18).

Tata Steel, Jindal Steel & Power (JSPL) and National Aluminium hit their respective fresh 52-week highs, while Hindalco touched a new high on the BSE in intra-day trade on Friday.

At 10:11 AM; the S&P BSE Metal index was up 0.88% at 14,379, as compared to 0.55% rise in the benchmark S&P BSE Sensex. The metal index hit an intra-day high of 14,414, its highest level since July 28, 2011.

Thus