At 10:21 AM on Wednesday, the Nifty Metal index was the top gainer among the sectoral indices up 2 per cent, as compared to 0.23 per cent decline in the Nifty 50
Traditionally, Q4 is seasonally strong for volume push, and thus, analysts expect most steel companies to foresee very sharp reversal in margins in Q4FY26.
However, in the past one month, the Nifty Metal index has rallied 10 per cent, as against 0.17 per cent rise in the Nifty 50.
In the past one month, the stock price of Hindustan Zinc, Nalco, Vedanta, Hindalco Industries and SAIL have rallied between 15% and 32%.
At 09:55 AM; Nifty Metal index, the top gainer among sectoral indices on Monday, was up 1.5 per cent, as compared to 0.08 per cent rise in the Nifty 50.
Metal stocks in demand: Analysts expect non-ferrous players to witness margin expansion in Q3 with LME prices continuing an uptrend compared to Q2.
HSBC on steel stocks: HSBC sees further upside in metal stocks as demand rises and imports stay restricted by policy support. Hindalco and Tata Steel get Buy ratings; Hindustan Zinc rated Hold
JSW Steel hit all-time highs and Tata Steel a 15-month peak as metals gained 20% in six months, driven by global price recovery, US rate-cut hopes and GST-driven demand
Spike in copper prices, extension of Rakha mining lease deed by another 20 years seems to be the key reasons behind the sharp rally in Hindustan Copper stock.
Steel stocks in demand: In past five trading days, the BSE Metal index outperformed the market by surging 6 per cent, as against 0.98 per cent rise in BSE Sensex.
Metal stocks were in demand on Wednesday amid buzz that the government may reallocate non-operational iron ore mines held by SAIL and OMC.
Nifty Metal Index has registered healthy running correction from the recent swing high. In international markets, we have seen bullish breakouts in Iron ore commodity.
At 12:37 PM; Nifty Metal index, the top gainer among sectoral indices, was up 2.6 per cent, as compared to 0.57 per cent rise in Nifty 50.
At 11:48 AM; Nifty Metal index, top gainer among sectoral indices, was up 1.4 per cent, as compared to 0.2 per cent decline in the Nifty 50.
The Nifty can potentially surge another 9% to hit levels of around 28,000-mark in the coming months; among sectors, auto and metal may see up to 20 per cent upside, suggest technical charts.
At 02:49 PM; Nifty Metal index was the top gainer among sectoral indices, up 2.2 per cent, as compared to 1 per cent rise in the Nifty 50.
Nifty Media index seen testing the 200-DMA hurdle after December 2024; that apart the index eyes breakout on the weekly scale as well. Here's a technical outlook on the index and 3 key media stocks.
Sectoral indices settled on a mixed note and the Nifty Realty emerged as top sectoral gainer
As per media sources, the US government is likely to increase tariffs on imported steel and aluminium from existing 25% to 50% starting June 4, to support domestic manufacturing of metal in the US.
Why stock markets fell today: Indian equity benchmark fell, tracking Asian markets as trade tensions flared up over the weekend with fresh steel and aluminium tariffs by the US