Nifty metal index rebounds
The news flow is the Israel -ran war Had Been Adding to Press for the Metal Stocks for the Past. However, the news flow is the israel -ran ceasefire meant that the nifty metal index jumped more than 2%. The nifty metal index opened at 9,290.7 and Gained further to intraday highs of 9,395.70, which mean meant means of more than 2% during interday trades.
Steel Authority of India Ltd (SAIL) Share Price Gained More Than 4%, While Tata Steel and JSW Steel Jindal Steel and Power Share Price Gained more than 2%. NMDC Share Price also Gained more than 3%, and Hindustan Copper Share Price, with more than 4% Gains, was also among prominent people.
Among Non-Ferrous Stocks, Hindalco Industries, Vedanta Limited, National Aluminum Company (NALCO) Share price also gained up to 2%
Reasons for the rally in nifty metal index
The reasons for the rally in metals stocks were attributed to news flowerd the israel-India ceasefire that has been helped the rally in the markets, and the benchmark nifty-50 index jumped more.
The positive news flow is the israel -ran ceasefire was attributed as a key reason for the rally in metal stocks by prashanth tapse, Senior VP (Research), Senior VP (Research), Mehta Equities Ltd. However, tapse also added that focus now will shift to the us-china trade talks, and this is further contributing to the Rise in the Metal Stocks.
China, being the largest consumer of commodities globally, influences the global steel prises substantically. Any Positive Progress in Trade Talks will mean an improved outlook for china ‘s metal demand, which will support Metal Pries Globally. This increases the earnings outlook for metals.
The news flow Around Hindustan Copper Eyeing Mine Auctions to Acquire Critical Minerals and Rare Elements Blocks ALSO Encourage and Contributed to the Rally in the RLLY In the Hindustan Copper Share Prices and Outperformance of all other non-ferrous stocks
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