Metals lead Nifty higher; crude slide, geopolitical uncertainty cap gains
Metal stocks emerge as the session’s standout performers, with JSW Steel climbing 2.54% to ₹1,299.20, Tata Steel gaining 2.48% to ₹189.56, and Hindalco rising 2.19% to ₹994.30
The Nifty 50 and Sensex both rose on Wednesday, despite a cautious market sentiment driven by geopolitical uncertainty and widespread foreign investor selling. Metal stocks led the upward movement, with JSW Steel up 2.54 percent, Tata Steel up 2.48 percent, and Hindalco up 2.19 percent. Bajaj Finance and Larsen & Toubro also gained.
However, some sectors faced declines, including Titan, Coal India, and Cipla. The broad BSE market showed more buying activity than selling, with 2,630 stocks advancing against 1,446 decliners. The Nifty opened near 23,352, supported by easing crude oil prices that fell 9 percent over four days due to increased Gulf supply and potential Red Sea crude exports.
The rupee remained stable at around ₹95.60 per dollar, and bank shares consolidated around the 56,000 support level. Gold prices in COMEX and MCX markets were mixed, while Asian markets saw a positive trend.
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