The Nifty Metal index started Friday\u2019s trade on a firm note, rising sharply on the back of strong buying interest in leading metal companies. By 10:30 am, the index had advanced 1.8 percent to touch 10,273.15, with major contributors including Tata Steel, National Aluminium Company (Nalco), Hindalco, and other heavyweights from the sector.<\/p>\n
Market sentiment was boosted by supportive global cues, particularly the growing expectations of a U.S. Federal Reserve rate cut later this month. Lower interest rates in the United States are typically positive for capital-intensive sectors like steel and metals, as they ease financing conditions and improve the overall demand outlook. In addition, reports of the European Union\u2019s plan to raise tariffs on imports brought further focus to the sector, with analysts suggesting that Indian companies may be less affected than initially assumed.<\/p>\n
Among the top-performing stocks, Tata Steel<\/a> rose 3.4 percent to Rs 173.26. The company was also the most actively traded stock in the sector by turnover, recording Rs 357 crore worth of trades. Nalco<\/a> gained 3.5 percent to Rs 221.89, continuing its upward momentum as demand for aluminium strengthened. Hindalco<\/a> added 2.2 percent to Rs 782.95, further lifting the index.<\/p>\n Vedanta<\/a> and SAIL<\/a> also made notable contributions to the rally, gaining 1.7 percent and 1.5 percent respectively. Jindal<\/a> Stainless was another significant mover, advancing close to 3 percent in early trade.<\/p>\n The gains reflected not only the positive global environment but also sector-specific optimism, with investors anticipating that global supply adjustments and supportive policies could keep demand steady in the near term.<\/p>\n Also Read: Amid Tariff Turmoil, FM Sitharaman Says India\u2019s Economy Strong Enough to Absorb Shocks<\/a><\/p>\n JSW Steel<\/a> also joined the list of gainers, climbing 1.2 percent to Rs 1,160. The stock received a boost after Moody\u2019s Ratings changed the company\u2019s outlook to positive from stable, while affirming its Ba1 senior unsecured rating.<\/p>\n According to Hui Ting Sim, assistant vice president and analyst at Moody\u2019s Ratings, the change in outlook reflects JSW Steel\u2019s meaningful expansion in operating scale. The agency noted that the company\u2019s increasing capacity and presence in both domestic and global markets provided greater stability to its operations. This positive reassessment by Moody\u2019s added confidence to investors and strengthened JSW Steel\u2019s position among the index gainers.<\/p>\nJSW Steel Benefits from Moody\u2019s Outlook Upgrade<\/h3>\n
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