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Indian metal stocks traded higher on Tuesday as renewed optimism over potential progress in US-China trade negotiations
Metal Stocks
Indian metal stocks traded higher on Tuesday morning, bucking the broader market weakness, as renewed optimism over potential progress in US-China trade negotiations lifted sentiment. The Nifty Metal index gained nearly 1 percent to 10,571 points around 11:30 am, emerging as the top-performing sectoral index even as most others remained in the red.
Jindal Steel and Tata Steel led the rally, climbing 3.9 percent and 2.2 percent, respectively.
The rally followed reports that US and Chinese officials have finalised a trade framework for Presidents Donald Trump and Xi Jinping to review later this week, potentially averting higher US tariffs and Chinese curbs on rare earth exports — a development that eased global trade concerns.
Jindal Steel’s shares rose to Rs 1,073.8 ahead of its Q2 FY26 results scheduled for release later today. Tata Steel advanced to Rs 180.6 after Motilal Oswal upgraded the stock to ‘buy’ from ‘neutral’, citing a strong domestic demand outlook, improving price realisations, and better operational efficiencies. The brokerage expects robust operating cash flows to fund Tata Steel’s ongoing expansion without additional leverage and set a target price of Rs 210 per share based on September 2027 estimates.
Among other gainers, SAIL rose 2.1 percent, Hindalco added 1 percent, and JSW Steel gained 1.15 percent. On the flip side, Hindustan Zinc declined over 2 percent, while Vedanta, Hindustan Copper, Jindal Stainless, and Lloyds Metals also traded lower.
So far in 2025, the Nifty Metal index has surged 22.25 percent, outperforming the Nifty 50’s 9.5 percent rise. Broader markets, however, remained under pressure, with the Sensex down 357 points (0.4 percent) at 84,422 and the Nifty slipping 93 points to 25,873.
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a…Read More
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a… Read More
October 28, 2025, 14:07 IST
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