Metal Stocks Rally on Global and Domestic Tailwinds

Metal stocks surged on Thursday, with Tata Steel and JSW Steel leading the charge as global supply disruptions and strong industrial demand buoyed investor sentiment. The Nifty metal index climbed over 2%, reaching 10,339.35, while the Sensex gained 273.17 points to 82,046.83.

Supply constraints at major mines and anticipation of U.S. interest rate cuts fueled the rally. A weaker dollar further supported commodity prices, while the EU's proposed restrictions on excess steel imports brightened prospects for Indian exporters like Tata Steel.

Technical rebounds also played a role, with Hindalco, JSW Steel, and Tata Steel attracting renewed interest after recent declines. The sector's outperformance contrasted with lagging consumer durables, auto, media, and FMCG indices.