The Indian stock market is trading on a handsome note as investors expect strong earning momentum to continue after IT companies started the earnings season on a good note.
Sensex is up 159.25 points or 0.44 percent at 36630.93, and the Nifty added 55.20 points or 0.51 percent at 10795.20.
Among the sectors, the metal index gained over 2 percent led by Hindustan Copper which jumped over 7 percent. This was followed by JSW Steel, SAIL, Tata Steel and MOIL which gained 3 percent each.
Shares of Tata Steel were one of the most active on NSE in terms of value with 1,34,19,147 shares being traded at 11:12 hours.
ICICI Securities has an intraday buy recommendation on JSW Steel with stop loss at Rs 199. It is of the view that a bullish engulfing candle at the 50-days EMA and a falling trendline breakout is signalling positive bias.S&P BSE Metals gained over 2 percent led by NMDC, JSW Steel, Coal India, Hindalco Industries and Jindal Steel & Power.