Metal stocks were the top gainers on Friday after US President Donald Trump signalled signing of the trade deal with China on January 15, 2020.
Shares of almost all the metal sector companies were trading in the green. On NSE, Hindustan Zinc rose over 4.2%, Coal India gained 4%, followed by SAIL and Vedanta shares that traded 2.5% higher. Shares of Tata Steel and Welspun Corp shares were up nearly 2%.
From Nifty metal index, Welspun Corp share price climbed to its 52-week high during the session, while shares of APL Apollo Tubes, Ratnamani Metals & Tubes, Hindalco Industries Limited were trading mere points away from their respective 52-week highs.
Trump said on Thursday that the US would sign the first phase of a pending trade deal with China probably on January 15, in a move to pause a near two-year-old trade war between the world's largest economies.
The BSE metal index has fallen 4.75% in a year and 32% in last 2 years. Similarly, the NSE metal index has declined 4.70% in one year and 31.55% in the last 2 years.