Metal stocks propelled market momentum on Thursday, driven by a favorable mix of global and domestic factors. The Sensex increased by 273.17 points or 0.33%, reaching 82,046.83 by 12:27 PM, after peaking at an intraday high of 82,160.85. The Nifty 50 climbed 97.20 points or 0.39% to 25,143.35, closely approaching its intraday high of 25,181.25.
Midcap stocks outperformed smallcap indices, with most sectoral indices, barring consumer durables, auto, media, and FMCG, trading in positive territory. The Nifty metal index rose over 2% to settle at 10,339.35, after hitting an intraday peak of 10,373.30, compared to the previous close of 10,136.55.
Factors Behind the Rally in Metal Stocks
The recent surge in global base metal prices, attributed to supply disruptions in major mines and robust industrial demand, appears to have positively influenced investor sentiment. Furthermore, expectations surrounding potential U.S. interest rate cuts and a weaker dollar are expected to bolster commodity prices. The European Union’s proposal to limit excess steel imports has also been viewed as beneficial for Indian exporters such as Tata Steel.
After experiencing recent declines, the metal sector is witnessing a technical rebound, prompting a rotation back into stocks including Hindalco, JSW Steel, and Tata Steel.
Top Gainers and Losers
Among the gainers in the Nifty 50 were Tata Steel, JSW Steel, HCL Tech, IndiGo, Dr. Reddy’s Labs, Kotak Mahindra, and Hindalco. In contrast, Tata Motors, Axis Bank, Titan, Maruti, Tata Consumer Products, and HDFC Bank were among those that experienced the most significant declines.
Metal stocks such as Hindustan Copper, Hindustan Zinc, NMDC, National Aluminium, SAIL, Tata Steel, JSW Steel, and Vedanta saw gains ranging from 2% to 5%.
A total of 3,017 stocks were traded on the National Stock Exchange, with 1,458 advancing, 1,470 declining, and 83 remaining unchanged. Notably, 75 stocks, including Hindustan Copper, Bluestone, and Aster DM, reached their 52-week highs, while 71 recorded 52-week lows. Additionally, 82 stocks, including Saatvik Green, hit their upper circuit limits, while 45, such as Solex Energy and Nibe, hit their lower circuit limits.
Within the mid-cap segment, Aurobindo Pharma, Motilal OFS, Prestige, BSE, Lupin, and NMDC surged by 3% to 4%. Conversely, Godfrey Phillips, M&M Financial, KPIT Tech, Vishal Mega Mart, Blue Star, and Waaree Energies saw declines of 1% to 2%.
In the small-cap arena, stocks like PGEL, Hindustan Copper, MCX, Inox Wind, and Godigit exhibited the most substantial gains, while BLS, Redington, Navin Fluorine, and HBL Engineering fell nearly 3%.
Attention is now directed toward Tata Consultancy Services (TCS), as investors await its quarterly results later today, which may significantly affect sentiment across the broader IT sector and the market indices.
Published on October 9, 2025
