BUZZ-Metals rise as U.S. dollar loses sheen; lead rise in Indian shares

Reuters2023-12-22

** India's Nifty metals index rises as much as 1.84%, leading sectoral gains

** Index gains after a decline in U.S. dollar, which makes metals less expensive for buyers using other currencies

** Tata Steel , Hindalco Industries up 2.5% and 2%, respectively, among top gainers in Nifty 50 index

** Despite the 3% aggregate rise on Thursday and Friday, index down 1% for the week due to a 3.82% drop on Wednesday, amid profit booking at record high levels

** Metal stocks set to snap a seven-week winning streak

** Index up ~20% in the previous seven weeks, versus an ~13% rise in Nifty 50 index - LSEG data

(Reporting by Bharath Rajeswaran)

((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))

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