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Informist, Friday, Jun. 20, 2025

NEW DELHI – Shares of metal companies are seen moving sideways with potential for a mild upside next week, analysts said. The Nifty Metal index is seen trading between 9000 to 9600 levels, according to Sugandha Sachdeva, founder of SS WealthStreet. "The dollar index has seen a rebound from lower levels of 97.5-odd. Plus, the (US) Fed has kept interest rates steady and has also hinted at a slower pace of rate cuts next year. So, this is weighing on metal stocks," she said. Sachdeva is bullish on Tata Steel and Hindustan Copper for the coming week.

The dollar index, which measures the strength of the greenback against a basket of six currencies, has risen 0.7% this week. A stronger dollar makes dollar-denominated base metals expensive for those holding local currencies.

Sachdeva is not very bullish on the sector for the second half of the calendar year, despite rising demand for metals such as aluminium and copper by several industries. "China was coming out with a lot of easing measures to offset the impact of these tariffs (US). Now, since tariffs have already been postponed, there is a pause, and a tentative agreement has been signed between the US and China, China may not come out with further stimulus measures," she said.

Earlier this week, Commerce Secretary Designate Rajesh Agrawal said India's steel and aluminium exports have been impacted by the 50% tariff imposed on the metals by the US. Although India's exports of steel and aluminium to the US are not very high, the higher tariff has had an impact on the sector, he said. The US, which imposed a 25% duty on the metals in February, doubled the tariff to 50% last month. Aluminium and steel exports to the US accounted for $4.56 billion out of India's total exports of $86.51 billion to the US in 2024-25 (Apr-Mar).

Friday, the Nifty Metal index closed 1.1% higher at 9138.60 points, after three consecutive sessions of decline. This week, the index has fallen 1.3% compared with a 1.6% rise in the Nifty 50.

TOP HEADLINES

* Vedanta to pay INR 7/share interim dividend FY26; total payout INR 27.37 bln

* Vedanta sells 1.6% stake in subsidiary Hindustan Zinc for INR 30.28 bln

* Hindustan Zinc says to announce next phase of capex plans in 30-45 days

* Hind Zinc to set up integrated zinc plant in Rajasthan at INR 120-bln capex

* Jindal Steel & Power to change co's name, modify employee benefit scheme

* Bhushan Power lenders file review plea Vs SC order nixing JSW Steel IBC plan

* Steel, aluminium exports impacted by 50% US tariff, says govt

* Vedanta board to Wed mull interim dividend for FY26

Following are the resistance and support levels for the stocks for next week as per calculations by Informist based on their prices on the National Stock Exchange:

End

Reported by Shakshi Jain

Edited by Saji George Titus

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