BENGALURU, May 10 (Reuters) – Indian shares rose for a fourth straight session on Monday as metal stocks climbed further on strong commodity prices, with Tata Steel scaling a fresh peak.<\/p>\n
The NSE Nifty 50 index rose 0.77% to 14,944.25 by 0351 GMT, while the benchmark S&P BSE Sensex advanced 0.78% to 49,575.49. Last week, the indexes gained 1.3% and 0.9%, respectively.<\/p>\n
Metal shares rose nearly 3% in early trade as iron ore futures surged on strong Chinese demand and copper prices hit a record high amid an outlook for tight supply and strong demand fuelled by a global economic recovery..<\/p>\n
The sub-index added 4.73% on Friday and was on track for its fourth straight session of gain early on Monday.<\/p>\n
Tata Steel rose 3.95% to a record high and was the top gainer on the Nifty 50 index.<\/p>\n
Meanwhile, benchmark Nifty 50 component Hero MotoCorp slipped 0.66% in early trade after the world\u2019s largest two-wheeler maker said it was extending closure of its manufacturing facilities across India until May 16 due to rising cases of the coronavirus infections.<\/p>\n
Asian equity markets were firm on hopes that interest rates will remain low due to receding inflationary pressure after weak U.S. jobs data on Friday.<\/p>\n