India’s Nifty Metal Index extended its gains on October 24, rising 1.75% amid positive global signals and strong buying in heavyweights such as Tata Steel, Nalco, and Hindalco. Supportive economic data and optimism over easing U.S. monetary policy continued to buoy capital-intensive metal stocks.
The Nifty Metal Index advanced 1.75% on October 24, reflecting broad strength across India’s metals sector. Key players like Tata Steel (+3.4%), National Aluminium Company (Nalco) (+3.5%), and Hindalco (+2.2%) led the rally, supported by positive global demand outlook and hopes of monetary easing by the U.S. Federal Reserve.
Analysts highlighted improving global commodity prices and a favorable domestic investment climate as reasons behind sustained buying interest. Moody’s recent upgrade of JSW Steel’s credit outlook to positive also added momentum, boosting investor confidence in India’s steel sector.
The index’s performance underscores the metals sector’s critical role in economic recovery, industrial activity, and infrastructure development. Market participants view these gains as a signal for opportunities in capital-intensive industries amid evolving macroeconomic trends.
Notable Updates:
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Nifty Metal Index climbs 1.75%, outperforming broader markets.
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Tata Steel, Nalco, Hindalco top gainers with 2-3.5% jumps.
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Positive global cues and commodities prices provide strong tailwinds.
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Moody’s upgrade to JSW Steel bolsters sector sentiment.
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Metals sector outlook supported by infrastructure and manufacturing growth.
Sources: NSE Live Market Data, Moneycontrol Market News, CNBCTV18, Business Standard