Indian metal stocks gain on weak US dollar after Trump's comments on Fed chair

Jindal Stainless

26/06/2025 06:48

** Indian metal stocks .NIFTYMET gain as much as 1% in early trade; last up 0.5% vs 0.4% rise in benchmark Nifty 50 .NSEI

** Gains aided by weaker U.S. dollar, down 0.4%, lowest in over 3 years; Shanghai copper prices hit a two-week high, supported by a weaker dollar MET/L

** Weak dollar makes metals more attractive to global buyers

** Eleven of 15 stocks on sub-index trade higher, with SAIL SAIL.NS top pct gainer, rising 2.3%

** Hindalco HALC.NS, Tata Steel TISC.NS and Jindal Stainless JIST.NS gain ~1% each

** Dollar fell after President Donald Trump said he knows 3-4 people who are contenders for the next chair of the Fed MKTS/GLOB

** Indian metals index gains 8.4% vs Nifty 50's 7% climb

 (Reporting by Kashish Tandon in Bengaluru)

 ((Kashish.tandon@thomsonreuters.com))