Metal Stocks Surge for 8th Day: Hindustan Copper, SAIL, Tata Steel Shine on Rising Global Prices

The momentum in metal stocks continued for the eighth straight session on December 29, with major players such as Hindustan Copper, SAIL, Tata Steel, and others marking impressive gains. The market sentiment reflected a broad-based rally, driven by global price trends and tightening supplies, lifting the Nifty Metal index to new highs.

Market Performance

The Nifty Metal index climbed 1.5% to 10,967.75 by 9:55 am on Monday, earlier hitting a fresh 52-week high of 10,983.20. Over the past eight sessions, the index has risen about 5%, reflecting strong momentum across the metals sector.

• Hindustan Copper surged around 7%, touching Rs 508.05 per share, with intraday highs reaching Rs 545.95, a fresh 52-week peak.
• SAIL shares climbed over 4%, maintaining the rally in steel stocks.
• Tata Steel, Vedanta, and Jindal Steel & Power recorded gains of over 2% each.
• Hindustan Zinc moved up nearly 2%, while APL Apollo Tubes and JSW Steel rose more than 1% each.
• Minor gains were seen in Welspun Corp, Hindalco Industries, National Aluminium (NALCO), NMDC, and Adani Enterprises.

Key Drivers Behind the Rally

The current surge in metal stocks is supported by several global factors shaping the metals market:

1. Tight Supply – Inventories across base metals remain constrained, limiting downside risk.
2. Rising Commodity Prices – Gold, silver, and copper have all seen sharp gains, reflecting physical supply shortages rather than temporary market fluctuations.
3. China’s Policy Support – Infrastructure, power grids, renewable energy, and urban redevelopment projects are boosting demand for steel, copper, aluminium, and zinc.
4. Global Dollar Trends – A softer US dollar and easing real yields are supporting dollar-denominated commodities.
5. Energy Transition Demand – Metals such as copper and silver continue to see strong demand from electric vehicles, renewable energy projects, and AI-related technologies, fueling the ongoing rally.

Company-Wise Highlights

Hindustan Copper

• Shares touched Rs 545.95, a 52-week high, reflecting the strong momentum in global copper prices.
• Copper prices reached an all-time high of $12,960 per ton on the London Metal Exchange, adding fuel to the stock’s surge.

SAIL

• Steel Authority of India (SAIL) shares climbed over 4%, supporting the bullish trend in steel stocks.

Tata Steel

• Tata Steel, along with Vedanta and Jindal Steel & Power, gained more than 2% each, contributing to overall market optimism.

Other Metals Players

• Hindustan Zinc, APL Apollo Tubes, JSW Steel, Welspun Corp, Hindalco Industries, NALCO, NMDC, and Adani Enterprises also recorded modest gains, highlighting broad participation across both ferrous and non-ferrous metals.

Summary

The metal sector’s rally reflects a convergence of global factors—tight supply, soaring commodity prices, and strong industrial demand. The sustained momentum over eight sessions has pushed key stocks like Hindustan Copper, SAIL, and Tata Steel to fresh highs, while the Nifty Metal index continues to track robust gains. Investors and market observers are closely tracking global trends, supply limitations, and industrial demand, as these factors continue to influence the direction of metal stocks.

With global commodity markets providing strong tailwinds and domestic industrial activity remaining steady, the metal sector remains in focus, making it one of the top performers in the stock market today.

Source: Moneycontrol