Metal stocks surged this week despite broader market volatility, lifting the Nifty Metal index around 4% as Adani Enterprises, Hindalco, and Vedanta climbed up to 11%. Analysts say investors should not chase momentum and instead look to buy on dips. The rally is linked to government increases in import duties on gold and silver to 15%, aimed at easing rupee pressure, plus industrial demand and supply disruptions—from copper-linked sulphuric acid issues to aluminium smelter disruptions in the Gulf.
Metal stocks surged on Tuesday as global base metal prices rallied sharply amid supply disruptions and strong demand. The momentum also lifted gold loan companies after the government raised customs duty on gold and silver, a move intended to curb imports while supporting domestic prices. Investors reacted positively across both metals and the lending space tied to bullion demand.
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