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Metal stocks roise on improved sentiment following reports of talks between the United States and China to renegotiate tariffs and trade imbalances.
Tata Steel Ltd jumped as much as 3 per cent, and was among the top percentage gainers on NSE index. Steel Authority of India Ltd climbed 3.9 per cent, and JSW Steel Ltd gained 2 per cent.
White House officials are asking China to cut the tariffs on imported cars, allow foreign majority ownership of financial services firms and buy more US-made semiconductors in negotiations to avoid a potential trade war.
According to analysts, upward stock movement also because of a bounceback after several sessions of losses.
Nifty metal index gained as much as 2 per cent after declining in the last four weeks. The index has fallen 10.6 per cent this year up to Monday.
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