BSE Metal Index hits two-year high

Shares of metal companies are trading firm in otherwise subdued market with the S&P BSE Metal Index hitting a two-year high today. In past three trading sessions, the index has rallied 10% as against 2% rise in benchmark index.

It added another 0.4% in intra-day deals and touched high of 12,110, its highest level since March 2012 on BSE as compared to a marginal decline in the S&P BSE Sensex on Tuesday. Tata Steel, Sesa Sterlite, Steel Authority of India (SAIL), NMDC, Hindalco Industries and Hindustan Zinc gained between 2-4% on the Bombay Stock Exchange (BSE).

In the past three sessions, Hindalco Industries, Sesa Sterlite, SAIL, NMDC, Hindustan Zinc and Jindal Steel and Power have gained between 11 – 22%.