Metals shine, Sterlite Industries surges 9pc

Posted By: Samyuktha
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Mumbai, Jun 21: The Indian markets are celebrating the announcement from China on Yuan's fixed rate against dollars. Sensex hit a new high over two months. While metal shares are the top gainers on the bourses, Sterlite Industries outshone the rest.

Metals gained 1.34 per cent to 9.16 per cent just before noon. Sterlite Industries shot up 9.16 per cent to Rs 185.20. The company also announced the share for one held besides splitting the share from face value Rs 2 to Re 1.

Among the other gainers were National Aluminium Company up 1.34 per cent, Jindal Steel & Power up 2.30 per cent, Steel Authority of India up 3.89 per cent, Hindustan Zinc up 4.26 per cent, Hindalco Industries up 4.47 per cent to Rs 151.80, Sesa Goa up 5.06 per cent , Tata Steel up 5.22 per cent.

The metal sector is enjoying the northborth trend after declining 16.91 per cent over the previous quarter on China's move to make its currency more flexible. The Yuan rate has lifted copper and other base metals in Shanghai market on Monday, Jun 21.

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