Nifty Metal Index Surges on Global Support

The Nifty Metal index recorded a strong rise of 1.8 percent, touching 10,273.15 by late morning on Friday. Investor sentiment was buoyed by positive global cues that favor capital-intensive sectors such as steel and aluminium. The rally underscores renewed confidence in the metals sector amid policy and economic signals.

Key Stocks Driving the Rally

Several heavyweights in the metal sector led the charge, with Tata Steel, Nalco, and Hindalco posting notable gains.

• Tata Steel: +3.4%, ₹173.26 per share
  
  
• National Aluminium Company (Nalco): +3.5%, ₹221.89
  
  
• Hindalco: +2.2%, ₹782.95
  
  
• Vedanta: +1.7%
  
  
• SAIL: +1.5%
  
  
• Jindal Stainless: +3%
  
  

On the other hand, Jindal Steel slipped 1.2 percent to ₹1,052.30, while APL Apollo remained flat. Hindustan Copper continued its upward momentum, rising 1.2 percent and extending a remarkable 45 percent gain over the past 30 days.

Global Cues Supporting Metals Sector

Traders are closely watching international developments that are shaping investor sentiment:

• The U.S. Federal Reserve is expected to implement a 25 basis-point rate cut this month. Such moves typically enhance demand prospects for capital goods and metals.
  
  
• The European Union is set to raise steel import tariffs to 50 percent and reduce quota allocations by nearly half to protect domestic producers.
  
  

Despite these changes, Indian steelmakers are unlikely to see major impact as exports make up less than 8 percent of their total sales. Tata Steel, for instance, could benefit from its operations in the Netherlands, which contribute around a quarter of its consolidated revenue.

Trading Activity Highlights

High trading volumes accompanied the price surge, reflecting active market participation:

• Tata Steel: ₹357 crore in turnover
  
  
• Hindustan Copper: ₹246 crore
  
  
• National Aluminium Company (Nalco): ₹237 crore
  
  

The volume surge indicates strong investor interest, supporting the metals rally and reinforcing the sector’s resilience in the current market scenario.

Summary

The metals segment, as represented by the Nifty Metal index, displayed solid performance on Friday. Gains in Tata Steel, Nalco, and Hindalco reflect both domestic investor interest and global policy influences. Trading activity further emphasized market enthusiasm, positioning the sector as a focal point for today’s stock market movements.