Home / Markets / News / Will the Nifty Metal index sustain its upward momentum? Check here

Will the Nifty Metal index sustain its upward momentum? Check here

While the Nifty Metal index seems headed towards its crucial resistance zone, select stocks such as Hindalco, Nalco and SAIL still have the potential to rally up to 15 per cent, charts suggest.

markets, stock market, sensex, correction, nifty, shares, growth, profit, economy, gain

Web Exclusive Premium

Will the rally in metal stocks sustain?

Rex Cano Mumbai

4 min read Last Updated : Sep 05 2023 | 12:10 PM IST

Listen to This Article

The Nifty Metal index hit a fresh all-time high at 7,042.50 in trades on the Monday. The index witnessed a sharp rally in the last five trading sessions gaining near about 8 per cent as against 1.6 per cent gain on the Nifty50 benchmark.

The renewed buying enthusiasm at these counters were on hopes that stimulus measures taken by China, lower mortgage rates, reduced down-payment for home buyers coupled with debt-extension for Country Garden, could help revive the world second largest economy. Analysts also attributed the recent gains to price hikes implemented by domestic companies.

Select stock such as SAIL,

What you get on BS Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.

VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in