Nine metal and mining stocks rose by 0.57% to 3.53% at 13:35 IST on BSE as copper prices rose in global commodities markets.
Jindal Steel & Power (up 3.53%), Hindustan Zinc (up 1.64%), Steel Authority of India (up 1.17%), Hindustan Copper (up 1.87%), JSW Steel (up 1.58%), Vedanta (up 0.57%), Bhushan Steel (up 1.46%), Tata Steel (up 0.66%) and NMDC (up 0.88%) edged higher. Hindalco Industries (down 0.42%) and National Aluminium Company (down 0.6%) fellHigh Grade Copper for September 2016 delivery was currently up 1.74% at $2.1625 per pound on the COMEX.
Meanwhile, the S&P BSE Metal index was up 61.47 points or 0.75% at 8,274.68. It has outperformed the Sensex which was up 131.62 points or 0.5% at 26,534.58
The S&P BSE Metal index had outperformed the market over the past 30 days till 27 June 2016, rising 6.89% compared with 0.94% fall in the Sensex. The index also outperformed the market in past one quarter, advancing 11.39% as against Sensex's 6.03% rise.
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