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Mumbai, July 21 (PTI) Metal stocks attracted strong buying interest today on the Bombay Stock Exchange today, with the sectoral index climbing by 3.16 per cent, following an increase in base metal prices in overseas markets. As the 30-BSE benchmark Sensex recorded nearly a 100 points gain, the BSE metal index emerged as the best performer with a hefty rise of 473.32 points, or 3.16 per cent, to 15,430.64. The major gainers in the sectoral index were Tata Steel, Sterlite Industries, Hindalco, Hindustan Zinc and Jindal Steel and Power. Marketmen said the trading sentiment turned bullish after copper and other base metals rose at the London Metal Exchange, buoyed by shrinking inventories, indicating robust global demand. In addition, a surprise increase in US applications for building permits that suggested a pick up in construction activity also boosted investor optimism. Expectations of strong first quarter earnings by metal- maker firms also generated buying activity, marketmen said. Sterlite Industries, the country''s largest copper producer, rallied by 4.33 per cent to Rs 173.30 as metal prices surged in the global market. It touched an intra- session high of Rs 173.80. Over 22.80 lakh shares of the company changed hands on the BSE. Tata Steel, the largest steel-maker in the private sector, closed 4.01 per cent higher at Rs 529.95 after registering an intra-day high of Rs 532.40. Nearly, 28.38 lakh shares of the company changed hands on the BSE. State-run SAIL was also in good demand and rallied by 2.89 per cent to Rs 204.80. Over 8.42 lakh shares of the company changed hands on the BSE. The other gainers were Hindalco, which rose by Rs 2.55 per cent to Rs 156.25, National Aluminium by 1.68 per cent to Rs 436.40, Hindustan Zinc by 3.13 per cent to Rs 1,010.65, Jindal Steel and Power by 2.51 per cent to Rs 636.05 and JSW Steel by 5.01 per cent to Rs 1,174.75.
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