BUZZ-Nifty Metal index hits record high as fresh China stimulus drives rally

Reuters09-30

** India's Nifty Metal index rises as much as 1.98% to record high of 10,263.65

** NIFTYMET set to gain for seventh straight session

** NMDC , Welspun Corporation , APL Apollo Tubes lead pct gains in index, rising 3.8%, 3.2% and 2.5%, respectively

** Index heavyweights Tata Steel up 1.1%, JSW Steel rises 2.5% and Hindalco adds 1.2%

** Index boosted by higher global metal prices and China's planned stimulus to boost its economy

** Stocks rising on hopes that China stimulus will increase demand and add profit margins for Indian metal cos

** Index up ~8% since China announced stimulus

** NIFTYMET up ~28% YTD vs ~19% gains in NIFTY 50 Index

(Reporting by Vijay Malkar)

((VijayDattaram.Malkar@thomsonreuters.com;))

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