Shares on the Nifty Metal index were sharply higher, taking the index ….

Shares on the Nifty Metal index were sharply higher, taking the index up by a percent to near 9,000 level. International brokerage Jefferies’ issued a positive note highlighting top picks within the sector. The metal stocks have outperformed benchmark index Nifty 50 by up to 15-20 percent in the year-to-date. Hopes of an economic recovery in China and expectations of anti-dumping duty to safeguard the domestic steel makers are acting as a positive trigger for the shares, the international brokerage said. The metals index has surged 8.6 percent last week, its best in nearly four years. The other metal stocks which recorded strong gains on March 10 included Jindal Steel, Adani Enterprises, Welspun Corp, NMDC and more. Investors are expecting more stimulus measures by China to boost consumption and cushion the economic impact of an escalating trade war with the United States. The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Money Control.com advises users to check with certified experts before making any investment decisions.

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