Metal stocks shine on BSE

According to marketmen,the hike in steel product prices is pushing up shares of major companies. Also,rising demand for the product ahead of the peak festivals like Durga Puja,Dussehra and Diwali is another reason behind the companies good show.

Iron ore producer Sesa Goa soared 5.05 per cent after scaling to a four-week high of Rs 362.90 during the day.

Aluminium giant Hindalco Industries too closed up 0.78 per cent after touching 52-week high of Rs 210.35 on BSE.

Hindustan Zinc closed up 4.39 per cent at Rs 1,159.50,while JSW Steel touched its life-time high of Rs 1,400 before finishing up 1.41 per cent at Rs 1,388.35.

NMDC rose by 2.56 per cent to hit a one-month peak of Rs 285.90. SAIL gained 0.43 per cent.

Bucking the trend,copper major Sterlite Industries closed down 1.88 per cent,registering the second biggest fall after FMCG major ITC in the Sensex pack. Jindal Steel also fell by 0.28 per cent.

The BSE metal index settled at 17,623.99 points,reflecting a gain of 106.90 points,while the broader market barometer Sensex ended higher by 30.69 points at 20,475.73.