|
Improving
Chinese demand, partial lifting of the Odisha mining ban and the
central bank’s move to ease liquidity boded well for metal sector
stocks, which climbed to a one-year high on Tuesday.
Chinese manufacturing data for the month of May touched a four-month high, leading to hopes that demand from the world’s largest consumer of metals will revive going forward. Further, the Reserve Bank of India’s move to cut the statutory liquidity ratio or SLR by 50 basis points to 22.5 per cent boosted market sentiment resulting in heavy buying in these stocks which have not been major participants in the recent market rally. |
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