Hindalco, Vedanta top gainers as outlook improves for non-ferrous stocks

As base metal prices stabilise, aluminium looks set to gain the most on higher demand and constrained supply

Non-ferrous stocks, led by Hindalco and Vedanta, were among the key gainers on Monday on easing of trade war concerns after the G20 Summit. Hindalco and Vedanta closed up more than 3 per cent each as the US and China agreed to postpone new tariff levy for 90 days and hold further talks. 

Aluminium, zinc, and lead prices on the London Metal Exchange have rebounded 1-4 per cent from their lows seen on last week. Kamal Kant Sahoo at Emkay Global feels decline in crude prices is also good news for metal players. He expects metal prices to improve and