Nifty Metal Hindalco

Metal stocks were in demand on Wednesday amid buzz that the government may reallocate non-operational iron ore mines held by SAIL and OMC.

Metal stock rally: The Nifty Metal index rose as much as 1.67 per cent to hit an intraday high of 9,185.20.

At 11:52 AM, 12 of the 15 stocks in the Nifty Metal Index were trading in the green, while three remained in the red

The Nifty Metal index, the top loser among sectoral indices, was down 2 per cent, as compared to the 0.35 per cent rise in the Nifty 50, at 9:53 AM.

The surge in the metal index, analysts believe, is largely credited to Vedanta's robust Q4 performance and its first interim dividend declaration of Rs 11 for FY25

JSPL, Hindalco, Vedanta, SAIL, JSW Steel and Tata Steel from the Nifty Metal index have seen their share prices plunge in the range of 14 per cent to 18 per cent during this week

The 200-day moving average (DMA) is one of the important indicators to ascertain buy or sell trends.

Tata Steel, Vedanta and SAIL have seen sharp fall in their stock prices in the recent months.

National Aluminum, Tata Steel, Vedanta, Steel Authority of India and JSW Steel were down 2% to 3% on the NSE.

At 10:53 am; the Nifty Metal index, the largest gainer among sectoral indices, was up 3.3% as compared to 0.39% rise in Nifty 50 index

In past one month, Nifty Metal index underperformed the market by falling 10.5% against 3.6% decline in Nifty 50 index