Metal stocks rose in tandem with the broader market, on optimism over a trade deal between the US and China ahead of a tariff hike deadline. At 11:41 am, shares of Vedanta Ltd traded over 3 per cent higher at Rs 148.20 apiece. Hindalco was up 2.8 per cent, Tata Steel rose 2 per cent, Jindal Steel gained 1.3 per cent and JSW Steel was 1.5 per cent higher. The BSE Metal Index rose 2 per cent to 9,759.50 points, while the BSE Sensex was up 0.7 per cent at 40.889.96 points.
The US and China have been locked in a tariff war for about 18 months now, which has had a telling effect on the world economy. The trade war between the two largest economies has hit global growth and dampened profits and investment for companies around the world.