Nifty Metal up 5% in September so far; can metal stocks sustain these gains?
Metal stocks have been rising recently, driven by hopes of increased demand from China and domestically as economic growth picks up. The Nifty Metal index has gained about 5 per cent in September so far, outperforming the benchmark Nifty, which has risen by about 2 per cent.
Metal stocks have been quietly rising of late. In September so far, the Nifty Metal index has gained approximately 5 per cent, while the benchmark Nifty has risen by about 2 per cent. With the exception of August, when the metal pack fell by 1.5 per cent, the index has witnessed significant gains since March this year, driven by hopes of a revival in demand both from China and domestically as economic growth picks up.
Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!Let’s get started