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Metal Stocks Drive Market Rally Amid GST Council Expectations
Metal Stocks Drive Market Rally Amid GST Council Expectations
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BTCCSquare news:
Indian equities staged a sharp recovery in Wednesday's session, with the Sensex climbing 409 points to close at 80,567.71 as metal stocks led gains. Tata Steel surged nearly 6% to lead the Nifty's 135-point advance, while Hindalco and JSW Steel both gained over 3%.
The sector's outperformance comes amid tightening Chinese supply conditions and a weakening dollar improving global pricing power. Coal India joined the rally with a 2.5% gain, while banking stocks showed tentative signs of recovery with Nifty Bank rising 0.8%.
Tech stocks faced continued pressure, contrasting with the commodities surge. Market participants attribute the metals momentum to speculative positioning ahead of potential GST Council announcements.
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