Metals halt losing run; BSE Metal index gains 2%, JSPL, Tata Steel up 5%

The uptick in metal prices augurs well for domestic metal companies as it would have a positive rub-off on their financial performance, going forward

Shares of metal companies rallied up to 5 per cent on the BSE in intra-day trade on Friday as base metal prices witnessed a steady uptick on the London Metal Exchange (LME) overnight.

Jindal Steel and Power (JSPL), JSW Steel, Tata Steel, Steel Authority of India (SAIL), Hindalco and Vedanta from the metal indices gained up to 5 per cent.

The S&P BSE Metal index and Nifty Metal index gained 3 per cent in intra-day trade after falling 10 per cent in the past 12 trading days. At 11:07 am, S&P BSE Metal and Nifty Metal indices were