Metal Stocks Soar Amid Market Optimism

On Friday, metal stocks took center stage as Lloyds Metals soared over 6%, contributing to the broader equity market's positive finish. Other notable gains included Tata Steel increasing by 3.40%, National Aluminium Company by 3.10%, and several other key players witnessing modest lifts.

The BSE metal index rose by 1.85% to close at 34,048.62, while the 30-share BSE Sensex climbed 223.86 points, or 0.28%, ending at 81,207.17. Similarly, the NSE Nifty edged up by 57.95 points, or 0.23%, closing at 24,894.25.

Vinod Nair, Head of Research at Geojit Investments Limited, highlighted that the rally in metal indices was spurred by optimism over a potential Federal Reserve rate cut, a weakening dollar, and stable base metal prices.

(With inputs from agencies.)