Hindustan Copper, National Aluminium, and Jindal Steel Share Price Surge; Nifty Metal Hits Record High

Market Performance: Nifty Metal Hits Record High

Thursday’s session saw metal stocks break past resistance levels, with the Nifty Metal index climbing to a fresh all-time high of 12,399, up 2.42%, marking its fourth consecutive record-breaking session.

The surge came even as the broader market displayed muted performance. The rally pushed the index up 10.60% in January, its best monthly gain since March 2025, leaving the Nifty 50 behind, which slipped 3.22% over the same period.

The sector-wide momentum reflects strong investor preference for metals amid global currency fluctuations and elevated demand for physical assets.

Stock Spotlight: Top Gainers

Among individual stocks, three names stood out:

• Hindustan Copper: Jumped 19%, reaching an all-time high of ₹743 per share.
• National Aluminium: Rose 3.8%, continuing its steady upward trajectory.
• Jindal Steel: Advanced 3.6%, contributing to the Nifty Metal surge.

Other notable performers included Hindalco Industries, NMDC, Vedanta, Tata Steel, SAIL, and Hindustan Zinc, with gains ranging from 1% to 3%.

The widespread upside indicates robust market interest in metal stocks, underpinned by record-breaking commodity prices.

Global Factors Supporting the Rally

Several macroeconomic factors contributed to the bullish trend:

• US Dollar Weakness: The dollar index slipped to 96.02, following a four-year low of 95.55 in the previous session. This made metals cheaper for global investors.
• Geopolitical Tensions: Elevated concerns, including US foreign policy developments, pushed investors toward real, physical assets.
• Physical Metal Demand: Rising demand for copper, aluminium, and other base metals added to bullish sentiment.

Commodity Highlights: Copper and Aluminium

The rally in base metals mirrored their global performance:

• Copper: London Metal Exchange three-month futures surged 6.7% to an all-time high of $13,967 per tonne, up 12% year-to-date.
• Aluminium: Most active contracts rose 3.08% to 25,630 yuan per ton, while the London benchmark hit a four-year high, climbing 1.87%.
• Other Metals: Zinc gained 2.62%, nickel rose 2%, lead advanced 1.29%, and tin was up 1.54%.

These gains underline the ongoing strength in base metals, fueling the momentum in domestic metal stocks.

Company Overview

• Hindustan Copper: India’s premier copper producer, now trading at historic highs.
• National Aluminium: Focused on producing aluminium products, benefiting from firm commodity prices.
• Jindal Steel: A leading steel manufacturer, riding the overall metals sector rally.

The performance of these companies reflects both domestic market confidence and the influence of global metal prices.

Summary

Thursday’s session was a defining moment for metal stocks, with Hindustan Copper, National Aluminium, and Jindal Steel leading the charge. Strong commodity prices, a weak US dollar, and steady investor interest in physical assets drove the Nifty Metal index to 12,399, highlighting the sector’s outperformance in January 2026.

The rally signals continued market attention on metals, even amid broader market caution.

Source: Livemint