Metal stocks extended gains for second consecutive day in Wednesday’s trading session. The Nifty Metal index climbed 1.67 per cent to reach 9,724.40, marking a total gain of nearly 2 per cent over two straight trading sessions.
Meanwhile, the key equity indices witnessed modest losses in early afternoon trading, pressured by mixed global cues that dampened investor sentiment. The Nifty slipped below the 25,500 mark.
Metal stocks rallied more than 2%
Metal and mining stocks witnessed a largely positive trading session, with several major players registering notable gains. JSW Steel led the pack with a strong rise of 2.87%, closely followed by Tata Steel, which advanced 2.85%, reflecting robust investor sentiment in the steel sector.
Welspun Corp and Jindal Steel & Power also showed solid upward movement, gaining 2.73% and 2.56% respectively. These gains showcased increased optimism around infrastructure demand and global commodity trends.
Aluminium and diversified metal companies also contributed to the rally. National Aluminium Company gained 2.4%, while Steel Authority of India (SAIL) rose 2.34%, further reinforcing the bullish trend across the metal space.
Vedanta and Hindalco Industries posted modest gains of 1.22% and 1.21%, respectively, driven by stability in base metal prices. Meanwhile, Jindal Stainless edged up 0.8% and Hindustan Zinc saw a marginal increase of 0.48%, rounding off the list of gainers.
However, not all stocks in the sector participated in the uptrend. Lloyds Metals & Energy declined by 2.06%, emerging as the top laggard among metal stocks.
APL Apollo Tubes also slipped 1.39%, and NMDC registered a minor loss of 0.1%. These declines suggest that while the overall sector showed strength, selective profit booking and company-specific factors weighed on some counters.
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