India's metal index rises on top consumer China stimulus hopes

Welspun

24/01/2024 07:11

** India's Nifty metal index  .NIFTYMET  rises 1.2%, boosted
by ~3% rise in Hindalco  HALC.NS  
    ** Sub-index up as global metal prices appreciate on hopes
that China - world's top metals consumer - will offer support
for its stock markets  MET/L 
    ** Aluminium producer Hindalco was top gainer in the
sub-index and among top gainers in Nifty 50  .NSEI ; global
aluminium prices edged up on supply concerns from Russia
    ** HALC on track to log biggest gain so far this year
    ** National Aluminium Co  NALU.NS , Steel Authority of India
 SAIL.NS , Hindustan Copper  HCPR.NS , Vedanta  VDAN.NS  and
NMDC  NMDC.NS  gained between 2.8% and 5.3%  
    ** Analysts' average rating on eight of the 15-member index
is equivalent of "buy;" Three stocks- SAIL, VDAN and JSW Steel
 JSTL.NS  rated "hold," Hindustan Zinc  HZNC.NS  rated "sell" -
LSEG IBES data 
    ** No ratings available on Adani Enterprises  ADEL.NS ,
Hindustan Copper  HCPR.NS ; Four analysts rate  Welspun Corp
 WGSR.NS  "buy" or above 


 (Reporting by Manvi Pant)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))