Rally of 20-60% in metal stocks in 2021
The Nifty Metal Index has rallied 37 percent in 2021 and is responsible for supporting the Nifty50 index up to a great extent.
With a rally of over 37 per cent, the Nifty Metal Index has outperformed in the year 2021 so far. The reasons for this rally are the increasing global demand, weaker dollar index and global reflation.
The same index demonstrated a rise of only 6 per cent in the year-ago period. The Nifty Metal Index consists of ten stocks and 9 out of those 10 stocks have delivered returns of 20 to 60 per cent.
Some of the top gainers from metal index include Jindal Steel and Power, NMDC, Vedanta, Hindustan Zinc, Tata Steel Limited, Hindalco Industries Limited, National Aluminium Company Limited, Steel Authority of India Limited and JSW Steel Limited. The only stock from Metal Index which fell around 4 per cent was Coal India.
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