Metal stocks shine, Nifty Metal hits all-time high
Metal stocks had a standout day on Wednesday, jumping over 7% and pushing the Nifty Metal Index up to 12,399.4 points.
Every stock in the index closed higher, with Lloyds Metals and Energy leading after a strong 'Buy' rating, and others like NALCO and Vedanta also posting solid gains.
Analysts see 15-25% more upside in metal stocks
Analysts think metal stocks still have room to grow—possibly another 15-25%.
Recent government moves to block cheap Chinese steel imports are helping Indian companies, while new "green steel" policies and steady local demand are keeping momentum strong.
Technicals and global trends back metal momentum
It's a mix of global trends (like rising silver and steel prices, plus a weaker dollar) and investors moving money from IT into metals.
Technical analysis is also pointing to more gains ahead, with experts eyeing Tata Steel, NALCO, and SAIL as top picks for what could be an even bigger run.