Metal stocks jump on renewed hopes of positive developments in US-China trade talks

In today’s session, Metal stocks were trading higher after the US national security adviser, Robert O’Brien, states that an initial trade agreement with China was still possible by the end of the year.

Cheering the news, the Nifty Metal jumped nearly 3 per cent in the intraday session and made intraday high of 2600. Under Nifty Metal, 13 stocks were trading in the green while 2 stocks were trading in the red.

The major gainers were Jindal Steel, Tata Steel, Hindalco, National Aluminium, and JSE Steel.

Jindal Steel gained nearly 7 per cent and made an intraday high of Rs. 154.55, Tata Steel gained around 5 per cent and made an intraday high of Rs. 419.50, and Hindalco gained 5 per cent and made an intraday high of Rs. 200.50, all on BSE.

Looking at the broader indices, the BSE Sensex made a fresh record high of 40,865.97 whereas the Nifty 50 made an intraday high of 12,064.25.