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Metal stocks track higher base metal prices on LME
Seven metal stocks rose 0.93% to 1.67% at 09:51 IST on BSE, as LMEX, a gauge of six metals traded on the London Metal Exchange rose 1.63% to $3,088 in London on Friday, 9 July 2010.
The BSE Metal index was up 1.34% to 15,036.46. It outperformed the Sensex, which was up 0.72% to 17,961.94
Jindal Steel & Power (up 0.93%), Hindustan Zinc (up 1.32%), Steel Authority of India (up 0.98%), Hindalco Industries (up 1.25%), Tata Steel (up 1.67%), Sesa Goa (up 1.56%) and Sterlite Industries (up 1.52%) edged higher.
The BSE Metal index had underperformed the market over the past one month till 9 July 2010, rising 5.22% as compared to the Sensex's 7.06% rise. It had also underperformed the market in the past one quarter, falling 19.12% as compared to the Sensex's fall of 0.56%.
Shares of Tata Steel today, 12 July 2010, turned ex-dividend for dividend of Rs 8 per share for the year ended March 2010.
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