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Nifty Metal falls nearly 5% in September as investors weigh October outlook

The index was down 4.8% over the past month, while experts said October may favor stock-specific moves, with aluminum and copper-linked names seen as potential beneficiaries.

Reported · Written up by our desk · Mining

LiveMint Markets said the Nifty Metal index has declined nearly 5% over the past month, with several metal-linked stocks among September's laggards, including NALCO, NMDC, Hindustan Copper, Adani Enterprises, and Vedanta Limited.

The outlet reported the index traded at 12,874.85 points at 12:18 pm on Tuesday, September 29, after being down 4.8% for the one-month period, even as it had risen 2.63% over three months and 15.3% over three months.

According to LiveMint Markets, any October upside in the index could hinge on global metal prices, demand trends, and domestic growth, although elevated valuations may limit gains.

With one day left before the new month, experts cited by the outlet expect October to be more stock-specific within the metal sector rather than a broad rally, noting that businesses tied to aluminum and copper could benefit.

Latest closeCopper $6.612 ▼1.2%

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