India's metal shares gain on hopes of better demand after a preliminary HSBC survey showed activity in China's factory sector expanded in June for the first time in six months as new orders surged.
The flash PMI data is the earliest indicator in a month to gauge the economic momentum and is therefore closely observed by the investors.
The HSBC-Market Flash China Manufacturing Purchasing Managers’ Index jumped to 50.8 in June from May’s final reading of 49.4. The Chinese PMI has depicted growth and is the highest recorded reading since November, when it was also recorded at 50.8.
Tata Steel surged 1.1% to Rs 525 on the BSE .Shares of Tata Steel opened at Rs 520 touched a high of Rs 528.3 and a low of Rs 520 on the BSE thus far. Over shares 333,020 were traded on the BSE so far.
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Hindalco gained 1.1% to Rs 165 on the BSE .Shares of Hindalco opened at Rs 164 touched a high of Rs 167 and a low of Rs 163.5 on the BSE thus far. Over 316,049 shares were traded on the BSE so far.
Sesa Sterlite appreciated 1.8% to Rs 297 on the BSE .Shares of Sesa Sterlite opened at Rs 291 touched a high of Rs 299 and a low of Rs 291 on the BSE thus far. Over 370,123 shares were traded on the BSE so far.
JSW Steel climbed 1.9% to Rs 1243 on the BSE .Shares of JSW Steel opened at Rs 1222 touched a high of Rs 1261 and a low of Rs 1215 on the BSE thus far. Over 158,275 shares were traded on the BSE so far.