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Metal stocks appear to be back in reckoning with the BSE metal index registering a 340 point rally today.
But the optimism was driven by a handful of stocks whose weightage in the index rather than any broad-based rally in the shares that seemed to have given the jump such a healthy look.
Of the eleven metal stocks forming the index, it was only Coal India, which decided to roll back prices in the wake of customer resistance, ended in the negative, down by Rs 8.50 at Rs 317.15.
Jindal Steel was up by Rs 34.85 to close at Rs 577.15, Tata Steel edged up by Rs 18.55 to Rs 469.55, JSW Steel closed at Rs 710.60, up by Rs 12.15, and Hindalco ended higher by Rs 6.20 at Rs 152.85. The other index shares gained marginally.
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