India's metal index hits record high as global prices rise

HindalCo Industries

16/04/2026 07:20

** India's metal sub-index .NIFTYMET gains 1.5% to a record high vs Nifty 50's .NSEI 0.08% rise; 13 of 15 sub-index constituents gain

** Supported by rise in global metal prices on potential U.S.-Iran peace deal MET/L

** Hindustan Zinc HZNC.NS climbs 3.1%

** Hindustan Copper HCPR.NS, National Aluminium Company NALU.NS, Vedanta Ltd VDAN.NS and Hindalco HALC.NS gain between 2% and 2.6%

** Kotak Institutional Equities hikes LME aluminium price forecast, saying lower MidEast output expected to widen global deficits in CY2026–27

** Brokerage upgrades NALU and HALC rating to "reduce" from "sell"; reiterates VDAN as its top pick

** Benchmark three-month LME aluminium CMAL3 hit four-year high on Thursday

** YTD, .NIFTYMET up 14% vs .NSEI's 7.2% loss

(Reporting by Brijesh Patel in Bengaluru)

((Brijesh.Patel1@thomsonreuters.com; Ph no. +91 9590227221;))