Nifty Metal index rises over 1% driven by trade talk optimism

APL Apollo Tubes, Welspun Corp, and Jindal Steel were the top gainers in the index up 4-2%, respectively.

Feb 21, 2019 09:02 IST India Infoline News Service

The Nifty Metal index was trading higher throughout today's session as metal stocks were bouyed by optimism over US-China trade talks. The index is up 1% currently.

APL Apollo Tubes, Welspun Corp, and Jindal Steel were the top gainers in the index up 4-2%, respectively. 

Tata Steel, SAIL, and Vedanta Ltd. followed with gains of ~2% each.

US President Donald Trump echoed his willingness to extend next month's tariff hike deadline on China after applauding the progress in trade talks, as per media reports.

Representatives from the US and China will meet in Washington today to resume negotiations, media reports stated citing a statement from the White House.

APL Apollo Tubes Ltd is currently trading at Rs1,138.55 up by Rs55.75 or 5.15% from its previous closing of Rs1,082.80 on the BSE.

Jindal Steel & Power Ltd is currently trading at Rs154.55 up by Rs4.65 or 3.1% from its previous closing of Rs149.90 on the BSE.

Welspun Corp Ltd is currently trading at Rs107.50 up by Rs6.25 or 6.17% from its previous closing of Rs101.25 on the BSE.

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