Business
Metal Stocks Shine: NALCO, Hindalco Jump Up To 4.5% As Nifty Metal Index Surges 2%
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Shares of metal companies rallied sharply on October 24, defying the broader market downturn
Metal Stocks
Metal Shares Gain: Shares of metal companies rallied sharply on October 24, defying the broader market downturn. The surge pushed the Nifty Metal index up more than 2% to 10,457.40 in early trade before paring some gains to trade 1% higher at 10,359 around noon.
Here are the key factors driving the rally in metal shares:
1. Trump–Xi Meeting Hopes Ease Trade Concerns
Global metal prices surged after the White House confirmed that U.S. President Donald Trump will meet Chinese President Xi Jinping in South Korea on October 30, as part of Trump’s Asia visit.
The announcement came amid renewed trade tensions following Trump’s plan to raise tariffs on Chinese imports to 155%. Investors are now hopeful that the meeting could ease trade hostilities, improving the global demand outlook for metals.
White House Press Secretary Karoline Leavitt said Trump’s itinerary includes stops in Malaysia, Japan, and South Korea, following his address at the APEC CEO Summit.
2. Metal Prices Rise on Tight Supply and Global Stimulus Hopes
Aluminium prices on the London Metal Exchange (LME) climbed past $2,850 per tonne, supported by strong demand and tightening supply. The rally was further fueled by expectations of monetary easing from major central banks.
Adding to the supply crunch, a smelter in Iceland temporarily shut operations due to equipment failure, likely affecting 100 kt of production. Copper prices also advanced about 2% on the LME.
3. US Fed Rate Cut Expectations Lift Sentiment
Optimism around further rate cuts by the U.S. Federal Reserve added to the positive momentum. According to a Reuters poll, the Fed is expected to cut interest rates by 25 basis points to 3.75–4% on October 29, with another potential cut in December.
Lower rates generally boost non-yielding assets like commodities, supporting investor appetite for metals.
4. Top Metal Gainers
National Aluminium Company (NALCO) shares have gained more than 4 percent, while Hindalco Industries and Hindustan Copper shares have gained more than 3 percent each. Vedanta shares were up nearly 3 percent.
Earlier during the day, Hindalco shares hit a 52-week high of Rs 826.50 apiece. This comes after its subsidiary Novelis said that its fire-damaged plant in Oswego will restart by the end of December, earlier than expected.
Hindustan Zinc shares gained around 2 percent, while NMDC, Jindal Stainless Steel, Steel Authority of India (SAIL) and Jindal Steel and Power shares were up around 1 percent each.
Heavyweights Tata Steel and JSW Steel shares were trading in the green with marginal gains.
Bucking the trend, APL Apollo Tubes, Welspun Corp and Adani Enterprises shares were trading in the red.
Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a…Read More
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a… Read More
October 24, 2025, 13:33 IST
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Business
‘India won’t sign any trade deal with a gun to head’: Piyush Goyal’s clear message amid talks with US, EU; ‘will reject restrictive conditions’ – The Times of India
At a time when India is engaged with the US and European Union for trade talks, Commerce Minister Piyush Goyal has made it clear that no trade deal will be signed in a hurry. “We are in active dialogue with the EU. We are talking to the US, but we do not do deals in a hurry and we do not do deals with deadlines or with a gun to our head,” Goyal said at the Berlin Global Dialogue according to a Reuters report. Goyal said that India will not rush into any trade deals. He also said that any conditions that may be set by partner countries that restrict India’s trading options will be rejected.
The EU-India free trade agreement discussions continue, but there are unresolved matters concerning market accessibility, environmental protocols, and origin regulations. These negotiations have been ongoing for an extended period.Also Read | Trump’s sanctions on Russian oil: How Reliance, Nayara Energy earnings will be hit – explainedAlongside these talks, India is also actively pursuing trade deal discussions with several countries, including the United StatesGoyal’s comments come at a time when India is facing pressure from the Donald Trump administration and the European Union for its continued purchases of Russian crude oil. The US has imposed 50% tariffs on Indian exports to America, 25% of which are penal duties for India’s crude oil trade with Russia.The European Union, United Kingdom and United States are urging New Delhi to reduce its imports of Russian crude at discounted rates, which Western countries allege supports Moscow’s military operations in Ukraine.India has shown openness to procure US energy and diversify its crude basket, but has been firm on its right to decide the source of crude oil purchases based on the interests of Indian consumers.US President Donald Trump has claimed that PM Narendra Modi has committed to reducing Russian crude oil trade, but no official word on the same has come from India’s side. Meanwhile, Trump has this week imposed sanctions on two major Russian crude suppliers – Rosneft and Lukoil – a move that may eventually force China and India to reduce their procurement of Russian oil.Also Read | No oil from Russia soon? Trump sanctions to hit India’s crude imports; ‘all but impossible for flows to continue’
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Stock Market Today: Indian stock markets started Friday’s session on a negative note
Sensex Today
Sensex Today: Indian benchmark indices traded lower on Friday, weighed down by reports that the US is considering a fresh probe against China regarding their 2020 trade deal. Rising crude oil prices, driven by US sanctions on Russia, further dented market sentiment.
By 12 PM, the Sensex was at 84,354.58, down 201.82 points or 0.24%, while the Nifty stood at 25,823.90, down 67.5 points or 0.26%.
On the Sensex, Hindustan Unilever (HUL), Kotak Bank, Axis Bank, Titan, Power Grid, ITC, Adani Ports, NTPC, Tech Mahindra, Eternal, and Maruti Suzuki were the top losers, falling up to 3.5%. On the upside, ICICI Bank, Tata Steel, Bharat Electronics (BEL), M&M, Bharti Airtel, HDFC Bank, and SBI led the gains.
Broader markets were muted, with the Nifty Midcap 100 down 0.05% and the Nifty Smallcap 100 sliding 0.18%.
Sector-wise, the Nifty Metal index led the rally with 1% gains, followed by the Nifty Realty index, up 0.5%. The Nifty FMCG index lagged, declining 1.16%.
Global Cues
Across Asia, markets traded higher after the White House confirmed that US President Donald Trump and Chinese President Xi Jinping will hold discussions next week during Trump’s Asia visit. Japan’s Nikkei 225 advanced 1.1%, Hong Kong’s Hang Seng rose 0.95%, and South Korea’s KOSPI gained 1.29%.
Overnight, US markets closed higher, led by gains in technology stocks following upbeat corporate earnings. The S&P 500 climbed 0.6%, the Nasdaq Composite surged 0.9%, and the Dow Jones Industrial Average added 0.3%.
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a…Read More
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a… Read More
October 24, 2025, 08:53 IST
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Maruti Suzuki Jimny 5-Door: Maruti Suzuki announced that the Jimny 5-door has achieved a landmark milestone, surpassing a cumulative export figure of 1 lakh units from India. The export journey for the Jimny 5-door began in 2023, shortly after its India debut. This SUV, manufactured exclusively in India, is being exported to over 100 countries, including Japan, Mexico and Australia.
Jimny 5-door’s entry in Japan in January 2025, under the name “Jimny Nomade”, sparked off an overwhelming response with orders crossing the 50,000 mark within days of introduction.
Speaking on the milestone, Hisashi Takeuchi, Managing Director & CEO, Maruti Suzuki India Limited, said, “The Jimny has over half a century of heritage globally. Jimny 5-door crossing 1 lakh export mark is a proud achievement for Maruti Suzuki. We are deeply thankful to customers around the world for their trust in this acclaimed SUV. Jimny’s strong off-road DNA, reliable performance and uncompromising quality have earned admiration in over 100 countries.”
He added, “The Jimny, along with 16 other models exported by Maruti Suzuki, stands as a shining example of ‘Make in India for the World’. The year-on-year rise in the Company’s exports reflects the love and confidence of customers in our products and highlights India’s rise as a hub for world-class automobile manufacturing.”
In the official statement, the company said, “This achievement reinforces Maruti Suzuki’s robust and sustained export growth trajectory. With over 2 lakh vehicles exported in H1 FY 2025-26, the Company grew by around 40% and recorded its highest-ever half-yearly export volume.”
“Maruti Suzuki commands over 46% share in India’s passenger vehicle exports. In FY 2024-25, the Company had exported over 3.3 lakh vehicles,” it further said. Maruti Suzuki has demonstrated significant growth in export volumes over the past five financial years, culminating in a record high of 332,585 units in 2024-25, up from 96,139 units in 2020-21.
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