Nifty Metal index surges 3%; JSW Steel, Jindal Steel up 6%

Nickel prices at LME rose to a nine-month high on demand from China.

Shares of metal companies were in focus on Tuesday, with Nifty Metal index surging 3 per cent on the National Stock Exchange (NSE) on the expectation of demand recovery.

Jindal Steel and Power (JSPL) and JSW Steel were up 6 per cent each at Rs 217 and Rs 285, respectively on the NSE. Hindalco, Tata Steel, Steel Authority of India (SAIL), and National Aluminium Company were up 3 per cent to 5 per cent.

At 03:04 pm, the Nifty Metal index, the top gainer among sectoral indices, was up 3 per cent at 2,490 points, as compared to a 0.55 per cent