Stocks rose for a sixth day today, posting its longest winning streak in almost a year. Commodity producers tracked gains in prices of metals.
Sterlite Industries (India), the country’s biggest copper producer, added 3.1 per cent. Tata Steel, the nation’s largest maker of the alloy, jumped 7.4 per cent. “Commodity stocks are mirroring advances in prices of metals,” said Shashank Khade, who helps manage $300 million of assets at Kotak Securities in Mumbai.
The Bombay Stock Exchange’s Sensitive Index, or Sensex, climbed 61.52, or 0.6 per cent, to 10,803.86, its longest run of gains since the six days ended April 22, 2008. The S&P CNX Nifty Index on the National Stock Exchange dropped less than 0.1 per cent to 3,342.05. The BSE 200 Index advanced 0.7 per cent to 1,270.45.
Hindalco Industries, the nation’s biggest aluminum producer, rose 1.3 per cent to Rs 58.95. Tata Steel gained 7.4 per cent to Rs 261.10. Sterlite Industries added 3.1 percent to 395.85.
