A sell-off in precious metals, especially Silver, owing to strength in the US dollar and hawkish US Federal Reserve stance, triggered selling pressure in metal stocks on Thursday, say analysts.
Buying in the metal sector came amid an overall positive market amid optimism around progress in US-Iran negotiations, which helped ease geopolitical tensions and lift global investor sentiment
Kunal Kamble, sr. technical research analyst at Bonanza, has recommended buying shares of Adani Energy Solutions, Titan Company, and APL Apollo Tubes today
Excluding National Aluminium, 14 of 15 index constituents rose on Friday, with Lloyds Metals & Energy, Tata Steel, JSW Steel, Jindal Steel, and APL Apollo Tubes gaining over 3 per cent each
According to analysts, the broader weakness in metal stocks reflects the risk-off sentiment across global markets amid rising geopolitical tensions