Shares of nine metal companies rose by 0.40% to 3.78% at 13:06 IST on BSE on positive economic data in China, the world's largest consumer of copper and aluminum.
Steel Authority of India (up 3.78%), JSW Steel (up 2.37%), Hindalco Industries (up 1.89%), Tata Steel (up 1.83%), Sesa Sterlite (up 1.32%), Hindustan Zinc (up 1.23%), Jindal Steel & Power (up 0.90%), Bhushan Steel (up 0.59%) and NMDC (up 0.40%), edged higher.
The S&P BSE Metal index was up 1.57% at 13,527.57. It outperformed the Sensex, which was down 0.04% at 26,136.53.
The S&P BSE Metal index had underperformed the market over the past one month till 23 July 2014, rising 1.45% compared with 4.46% rise in the Sensex. The index had, however, outperformed the market in past one quarter, rising 27.63% as against Sensex's 14.30% rise.
A Chinese manufacturing gauge rose to an 18-month high in July, adding to signs that the government will meet its 2014 economic-growth target of about 7.5%. A preliminary Purchasing Managers' Index from HSBC Holdings Plc and Markit Economics was at 52, compared with a final reading of 50.7 in June. Numbers above 50 indicate expansion.
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