Shares of metal companies, mainly steel makers, soared on Wednesday on hopes of improved demand after China's manufacturing activity in July expanded at the fastest pace in nearly a decade, indicating significant recovery from the Covid-19 crisis in the world's second-largest economy. Further, encouraging sales data by Steel Authority of India (SAIL) for July, too, boosted investor sentiment.
The Nifty Metal index jumped over 4 per cent to settle at 2,269. Tata Steel gained 6.6 per cent to Rs 397 while SAIL ended 6 per cent higher at Rs 37. JSW Steel rose 3 per cent to Rs 235 ...
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