Twelve metal and mining shares rose by 1.15% to 7.96% at 10:15 IST on BSE as LMEX, a gauge of six metals traded on the London Metal Exchange, surged 5% to settle at $3,436.90 on 30 November 2011.
Sterlite Industries (up 7.96%), Hindalco Industries (up 7.22%), Sesa Goa (up 5.75%), Tata Steel (up 5.22%), JSW Steel (up 4.62%), Sail (up 4.47%), Jindal Steel & Power (up 4.09%), Hindustan Zinc (up 3.65%), NMDC (up 3.20%), Nalco (up 2.18%), Bhushan Steel (up 2.05%) and Coal India (up 1.15%), edged higher.
The BSE Metal index was up 4.96% at 10,731.26. It outperformed the Sensex, which was up 2.93% at 16,595.22.
The BSE Metal index had underperformed the market over the past one month until 30 November 2011, sliding 15.80% compared with the Sensex's 9.44% decline. The BSE Metal index had also underperformed the market in past one quarter, falling 15.48% as against 3.32% fall in the Sensex.
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