Shares of metal companies have rallied by up to 5% on after China’s economy grew at its fastest pace this year for the quarter ended September.
Tata Steel, Sesa Sterlite, Steel Authority of India, Jindal Steel and Power, JSW Steel, Hindustan Zinc and Hindalco Industries are up 1-5% on the Bombay Stock Exchange (BSE).
The BSE metal index, the second largest gainer after Bankex, was up 2.4% compared to 1.6% rise in benchmark S&P BSE Sensex at 1130 hours.
China's economy grew 7.8% in July-September, its fastest pace this year, as firmer foreign and domestic demand lifted factory production and retail sales, the Reuters report suggests.
China is the world's largest consumer of copper and aluminium.
Meanwhile, Pranav Mer metal analyst at PM Invest-tech expect that the Federal Reserve would extend its stimulus efforts, began to offset worries about the economic impact of a 16-day government shutdown.
Among the individual stocks, Tata Steel has rallied nearly 5% to Rs 325, followed by Sesa Sterlite (up 4% at Rs 192), JSW Steel (3% at Rs 806), Hindustan Zinc and Jindal Steel are up 2% each at Rs 133 and Rs 257 respectively.
Tata Steel, Sesa Sterlite, Steel Authority of India, Jindal Steel and Power, JSW Steel, Hindustan Zinc and Hindalco Industries are up 1-5% on the Bombay Stock Exchange (BSE).
The BSE metal index, the second largest gainer after Bankex, was up 2.4% compared to 1.6% rise in benchmark S&P BSE Sensex at 1130 hours.
China's economy grew 7.8% in July-September, its fastest pace this year, as firmer foreign and domestic demand lifted factory production and retail sales, the Reuters report suggests.
China is the world's largest consumer of copper and aluminium.
Meanwhile, Pranav Mer metal analyst at PM Invest-tech expect that the Federal Reserve would extend its stimulus efforts, began to offset worries about the economic impact of a 16-day government shutdown.
Among the individual stocks, Tata Steel has rallied nearly 5% to Rs 325, followed by Sesa Sterlite (up 4% at Rs 192), JSW Steel (3% at Rs 806), Hindustan Zinc and Jindal Steel are up 2% each at Rs 133 and Rs 257 respectively.
